As of Monday, over 50 lakh farmers in Telangana had received farm investment support under the Rythu Bandhu scheme for the ongoing Yasangi (Rabi) season. While the farm investment amount distribution started on December 28, officials are confident that the entire 70.54 lakh eligible farmers will be covered within the next four to five days.
The State government will deposit a total of Rs.7,676.61 crore into the bank accounts of approximately 70.54 lakh farmers during the Yasangi season as part of the 10th installment of the scheme. To date, the state government has deposited nearly Rs.4,000 crore into the bank accounts of more than 50 lakh farmers.
At the end of the tenth installment, approximately Rs.65,559.28 crore will be distributed under the scheme. A total of Rs.7,434.67 crore was deposited into the bank accounts of approximately 65 lakh eligible farmers during the Vaanakalam (Kharif) season.
Agriculture Minister S Niranjan Reddy said in a statement that the Telangana government of K Chandrashekhar Rao launched the Rythu Bandhu scheme to provide much-needed farm investment support as part of its efforts to make agriculture a remunerative profession.
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Furthermore, in order to strengthen the agriculture sector, the State government not only developed several irrigation projects, but also extended schemes such as Rythu Bima, uninterrupted and free power supply, and others.
While the number of beneficiaries under the Rythu Bandhu scheme has increased from approximately 50 lakh in 2017-18 to 70.54 lakh in 2022-23, the number of beneficiaries under the Pradhan Mantri Kisan Samman Yojana (PM-KISAN) has decreased from approximately 11 crore to three crore in the last three years.
“There was a time, when farmers had to run from pillar to post and seek investment help for taking up cultivation. Now, with the Telangana Government extending Rythu Bandhu, the confidence levels of farmers in the State had increased manifold,” Agriculture Minister S Niranjan Reddy was quoted as saying.
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