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AP credits Rs 510cr to farmers as part of zero interest scheme

Andhra Pradesh Minister for Agriculture, Cooperation and Marketing Kursala Kannababu has said that the government has credited Rs 510 crores to more than 14 lakh farmers bank accounts all over the state under the YSR zero interest scheme.

The scheme is also known as 'YSR Sunna Vaddi Panta Runalu' (zero interest crop loans scheme). The move is aimed at reducing input cost and thereby decreasing the financial burden of farmers.

"Fulfilling the promise made in the manifesto that interest-free crop loans will be provided as subsidy to bank accounts of the farmers who have repaid 2019 kharif crop loans within the stipulated period of one year," said Kannababu.

Besides Rs 510 crore, the government is also disbursing an additional amount of Rs 132 crore which will be credited to farmers who suffered crop loss during the recent heavy rains.

"Earlier, the government had credited a total amount of Rs 135 crore into the bank accounts of around 1.66 lakh farmers towards compensation for crop loss incurred due to heavy rains and floods from June to September this year," said an official statement.

The CM said AP is a pro-farmer state, and the government will ensure to give maximum support and answer the farmer's distress.

"The Government will assist every farmer starting from seeds to the purchase of crops," said Reddy.

He further said that budget allocations were also made to provide zero per cent interest loans to tenant farmers as well under Rythu Bharosa scheme among others..