5.97 Lakh Farmers to Receive Rs 571 crore as Input Subsidy Today

On Tuesday, Chief Minister YS Jagan Mohan Reddy will distribute input subsidies to farmers. A total of Rs 571.57 crore will be distributed to 5,97,311 farmers who suffered crop damage as a result of heavy rains and flooding in November 2021. The funds will be deposited directly into farmers' bank accounts.

The Chief Minister stated unequivocally that input subsidies should be provided to farmers who suffered crop losses in the same season, allowing them to invest the funds for the following season and recoup some of their losses.

1.21 lakh quintals of seeds were provided immediately after heavy rains to farmers who suffered from seeds not germinating due to heavy rains at an 80 percent subsidy.

In the TDP regime, the Kharif 2014 input subsidy was paid in November 2015. According to a government release, no input subsidies were paid for crop losses in Kharif 2018. It's a completely different story under the YSRC regime.

In April 2020, 1.56 lakh farmers were paid Rs 123.70 crore for losses sustained up to March 2020, and 3.71 lakh farmers were paid Rs 278.87 crore for losses sustained from April to October due to rains.

In December, 8.35 lakh farmers received Rs 645.99 crore in input subsidies for Nivar cyclone crop loss in November 2020.

How do subsidies help farmers?

Direct payments and large subsidies for inputs such as irrigation water, power, and fertilizers benefit Indian farmers.

Aside from lowering production costs, a fertilizer subsidy can improve overall well-being by encouraging farmers to buy more fertilizer, which encourages them to work harder, reducing the bite of the moral hazard problem.

Stay tuned with Krishi Jagran for more Agri News!!