Andhra farmers credited with Rs 510 crore under zero interest crop loans scheme

Interest free crop loans as subsidy directly to bank accounts was part of Jagan Mohan Reddy’s election manifesto.
Jagan Mohan Reddy
Jagan Mohan Reddy
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Bank accounts of 14.5 lakh eligible farmers in Andhra Pradesh were credited with money totalling to Rs 510 crore as part of YSR Sunna Vaddi Panta Runalu (zero interest crop loans scheme), on Tuesday. The move, which was an election promise of Jagan Mohan Reddy, is aimed at reducing input cost and thereby decreasing the financial burden of farmers.

"Fulfilling the promise made in the manifesto that interest free crop loans will be provided as subsidy to bank accounts of the farmers who have repaid 2019 kharif crop loans within the stipulated period of one year," said Agriculture Minister Kurasala Kannababu.

Besides Rs 510 crore, the government is also disbursing an additional amount of Rs 132 crore which will be credited to farmers who suffered crop loss during the recent heavy rains.

"Earlier, the government had credited a total amount of Rs 135 crore into the bank accounts of around 1.66 lakh farmers towards compensation for crop loss incurred due to heavy rains and floods from June to September this year," said an official statement.

The CM said Andhra is a pro-farmer state, and the government will ensure to give maximum support and address farmer distress. "The Government will assist every farmer starting from seeds to the purchase of crops," said Jagan.

He further said that budget allocations were also made to provide zero percent interest loans to tenant farmers as well under Rythu Bharosa scheme among others.

(With PTI inputs)

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