Hyderabad: During the monsoon season, 3.64 lakh farmers applied for financial assistance through the Telangana government’s Rythu Bandhu scheme.
58,102 crore rupees have been spent on Rythu Bandhu so far. According to a press release, chief minister K Chandrashekhar Rao (KCR) issued instructions to higher officials to release funds immediately. For the monsoon season, Rs 7,654.43 crores have already been paid to the farmers at a rate of Rs 5000 per acre.
1.53 crore acres have been registered under Rythu Bandhu, and recently, another 1.50 lakh acres have been added to the list, said the state government. Compared to the Yasangi season, 3.64 lakh farmers have been given new financial assistance by the scheme this time.
What is Rythu Bandhu?
Rythu Bandhu is a scheme by the Telangana government to provide cash loans to encourage agricultural production in villages and increase the income of farmers. This scheme aims to protect farmers from getting trapped in private debt. The government will deposit Rs 5000 per acre and per farmer in the farmer’s account every season.
The government deposits Rs 5000 per acre in an individual farmer’s account every season. If two crops are planted, the farmer gets Rs 10,000 from the government. Seeds, chemicals, fertilizers, and other needs can be fulfilled with this money.
68 lakh farmers are getting investment assistance under this scheme every year. 50 lakh 43 thousand 606 acres are under cultivation in the state. About 55 percent of the population in Telangana depends on agriculture for their livelihood.