Hyderabad: The state government on Sunday released a whooping Rs 7720 crore as funds under the 11th edition of the Rythu Bandhu scheme. This will benefit 70 lakh farmers across the state.
The amount will be transferred to the farmers’ bank accounts starting today. It also brings the beginning of the Vanakalam (monsoon) season where crops are sown during the period from June to September.
Rythu Bandhu scheme is a farmer investment scheme recently launched by the state government that provides farmers with an incentive of Rs 5,000 for each acre of land as an investment for the crop.
With the completion of its 11th edition, the scheme contributed a total of Rs 72,910 crore to farmers’ accounts. An additional 5 lakh new beneficiaries, including 1.5 lakh farmers who own 4 lakh acres of Podu lands have joined the scheme.
With new beneficiaries added to avail of the scheme in the current edition, an additional Rs 300 crore burden was incurred by the state government.
Agriculture minister S Niranjan Reddy advised first-time beneficiaries to contact local agriculture officials with their bank account details for a glitch-free disbursement process.
“The completion of pending projects and the availability of irrigation water due to the construction of the Kaleshwaram project have resulted in an increased cultivation and a remarkable surge in paddy production,” said Niranjan Reddy.
“Neighbouring states have turned to Telangana for rice supplies which is a testament to the success of Telangana’s agricultural policies,” the minister added.
Telangana is the only Indian state that assists Rs 10,000 per acre of land to its farmers, twice a year.
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