YS Jagan disburses Zero interest subsidy to farmers account under YSR Sunna Vaddi scheme

Andhra Pradesh Chief Minister YS Jagan Mohan Reddy has said that as part of the implementation of promises made to farmers, more than six lakh farmers have been given interest subsidy. The AP government has provided interest subsidy to 6,27,906 farmers who took crop loans of up to Rs 1 lakh during the 2019-20 rabi season and repaid within a year. To this end, CM Jagan on Tuesday disbursed Rsm 128.47 crore to farmers' bank accounts from CM camp office in Tadepalli.

Speaking on the occasion, CM YS Jagan said that 60 per cent of the world's population is dependent on agriculture. He said the welfare of farmers and farm labourers was the government's objective. He said the arrears left by the previous government had also paid. "We are providing quality electricity to farmers free of cost," Jagan added. CM YS Jagan said another tranche of Rythu Bharosa scheme would be provided next month. It is a known fact that the zero interest crop loan scheme is applicable to all farmers who take crop loans up to Rs 1 lakh and repay the loan within a year.

However, the government has so far provided interest subsidy of Rs 1,132.54 crore to farmers. As per the promise given before the elections that farmers will be given interest free loans without getting stuck in a debt trap .. As soon as he came to power, CM YS Jagan was implementing a YSR zero interest crop loan scheme.

It was decided to apply the zero interest crop loan scheme only to the farmers who were initially registered in the e-crop. However, only 2,50,550 farmers were registered in the e-crop. Of all the remaining farmers, CM Jagan now generously applied the scheme to all those whom the bankers find eligible and pays interest subsidy.