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 provided interest subsidies.

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 Rs 128.47 crore to farmers' bank accounts from the CM camp office in Tadepalli.

Speaking on the occasion, CM YS Jagan said that 60% of the world's population is dependent on agriculture. He said that the welfare of farmers and farm laborers was the government's objective. The arrears left by the previous government had also been paid. "We are providing quality electricity to farmers free of cost," Jagan added. CM YS Jagan said it would provide another tranche of the Rythu Bharosa scheme. It is a known fact that the zero-interest crop loan scheme applies 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 an interest subsidy of Rs 1,132.54 crore to farmers. As per the promise given before the elections, 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. We decided to apply the zero-interest crop loan scheme only to the farmers who initially register in the e-crop.

However, only 2,50,550 farmers report 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 pay interest subsidy.