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Indian Govt announces Rs. 510.3 crore for 14.5 lakh farmers; important details insideqrcode

Nov. 19, 2020

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Nov. 19, 2020

Indian Govt announces Rs. 510.3 crore for 14.5 lakh farmers; important details inside

Amid the corona crisis, government has recently announced 510.3 crore fund for 14.5 lakh farmers of Andhra Pradesh.

Andhra Pradesh Agriculture Minister Kurasala Kannababu said, “14.5 lakh farmers of the state will get Rs. 510.3 crore. Money will be credited to their bank accounts under the YSR Sunna Vaddi (Interest free loans) scheme on November 17. This amount is the interest on the loans taken and repaid by the farmers.”

Interest-free Loan

In Kakinada on November 15, during the interaction with media-persons along with Kakinada MP Vanga Geetha, he said that as per the promise made in the party’s manifesto, farmers are being provided with the interest free loans.

He said, “the farmers who repaid their loans within a year are getting repaid with interest on their loans, the amount will be credited to their accounts.”Amount will be released by the Chief Minister YS Jagan Mohan Reddy today.

Crop Damage Suffered by the Farmers

As per mentioned by him, many crops were damaged in 93,908 hectares of land in the time span of June to September, and due to that around 1,70,266 farmers suffered losses. And not only this, in the month of October also, agriculture crops in 74,000 hectares and horticulture crops in 14,000 hectares suffered damage. And near to 1.98 lakh farmers suffered losses.

Input Subsidy Release

The minister mentioned that the Central team was being made aware about the crop damage. And, amount of 136.14 crore has been released as input subsidy for the months of June to September.

And one more important thing to note is that, input subsidy for the farmers who faced crop (Cotton, Groundnut, Black gram, Maize) damage will be declared soon.

This is the first time, input subsidy is being released in the same season. “Rs. 1,152 Crore was allocated for interest-free loan subsidy in the budget, and till the date, Rs. 825 Crore are released,” said the minister.

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