Telangana

Money released for Rythu Bandhu, loan waiver schemes

Finance Minister T. Harish Rao with Agriculture Minister Niranjan Reddy flanked by Finance Secretary Ramakrishna Rao and Agriculture Secretary B. Janardhan Reddy at a review meeting in Hyderabad on Thursday.

Finance Minister T. Harish Rao with Agriculture Minister Niranjan Reddy flanked by Finance Secretary Ramakrishna Rao and Agriculture Secretary B. Janardhan Reddy at a review meeting in Hyderabad on Thursday.   | Photo Credit: By Arrangement

In the present phase of despair caused by coronavirus pandemic with its adverse impact on every sphere of life including agriculture sector, the State government has rejuvenated hopes among the farming community ahead of the next agricultural season by releasing funds both for waiver of crop loans up to ₹25,000 and investment support (Rythu Bandhu) for the Vaanakalam season.

The release of funds for the loan waiver and Rythu Bandhu schemes were announced by ministers T. Harish Rao (Finance) and S. Niranjan Reddy (Agriculture) at a joint meeting of the Finance and Agriculture Department officials held here on Thursday. Mr. Harish Rao stated that the Finance Department had released ₹1,200 crore, following the directions of Chief Minister K. Chandrasekhar Rao, for writing off outstanding crop loans of farmers, taken from banks and cooperative societies, up to ₹25,000 each.

Mr. Harish Rao instructed the officials of Agriculture Department to oversee the crediting of the amount in the bank accounts of 6.10 lakh farmers whose outstanding debt is up to ₹25,000. He stated that the outstanding debt of farmers beyond ₹25,000 and up to ₹1,00,000 would paid to banks concerned through the farmers accounts in four instalments.

On the release of ₹7,000 crore for Rythu Bandhu scheme for Vaanakalam season, Mr. Harish Rao said arrangements were being made to credit the assistance at ₹5,000 per acre to about 51 lakh eligible farmers before the commencement of the agriculture season. It would be completed over the next 30 days. He noted that the amount was being credited to the farmers’ accounts ahead of the next agricultural season, even if it warranted cutting down the expenditure elsewhere.

Minister for Agriculture Mr. Niranjan Reddy said the input support would help the farmers take up preparatory cultivation in 1.4 crore acres of land. The two ministers told the officials of the Finance and Agriculture Department to work in tandem till the completion of the exercise to credit the input support in the bank accounts of eligible farmers.

Principal Secretary (Finance) K. Ramakrishna Rao, Secretary (Agriculture) B. Janardhan Reddy and other officials attended the meeting.

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Printable version | Aug 8, 2020 8:20:47 PM | https://www.thehindu.com/news/national/telangana/money-released-for-rythu-bandhu-loan-waiver-schemes/article31528347.ece

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