Telangana continues disbursement of investment support among farmers

Hyderabad: The government of Telangana on Tuesday started disbursing financial assistance to farmers owning over five acres of land under Rythu Bandhu.

Authorities began depositing the amount under the investment support scheme into the bank accounts of farmers who own more than five acres of land.

The state government has so far disbursed Rs 3,946 crore to 51.99 lakh farmers who own up to four acres of land.

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According to state Finance Minister Harish Rao, the government has so far disbursed the amount for 78.93 lakh acres.

He directed officials to ensure that there are no glitches in depositing the amount in the bank accounts of farmers.

The minister said depsite the financial problems faced by the state, the government is taking steps to make sure that all eligible farmers get the financial assistance for ‘Vanakalam’ or Kharif season.

Under Rythu Bandhu, the government credits Rs 5,000 per acre into the farmers’ bank accounts before the beginning of every crop season.

The disbursement for Kharif season began last week.

Finance minister S. Niranjan Reddy said the scheme during Kharif season will benefit about 68.1 lakh farmers in the state covering a total cultivable land of 1.5 crore acres.

Starting with farmers owning up to one acre land, the authorities are covering all beneficiaries in phases. The minister said during Kharif season a total of Rs 7,521 crore will be deposited in a phased manner.

During December -January the government had deposited Rs 7,411.52 crore into the bank accounts of 62.99 lakh farmers in the state.

The investment support under the state’s flagship scheme had covered 1,48,23,000 acres across the state for the Rabi season.

When the scheme was launched in 2018, the government was providing Rs 8,000 per acre per year (for both Rabi and Kharif seasons). The amount was enhanced to Rs 10,000 from 2019.

On January 10, the cumulative assistance provided under the scheme touched Rs 50,000 crore mark.

Niranjan Reddy said Rythu Bandhu, the brainchild of Chief Minister K. Chandrasekhar Rao, is proving a boon for farmers and it has helped transform agriculture in the state. He claimed that no other state in the country is implementing such a scheme for the welfare of farmers.

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