Distribution of Rythu Bandhu amount crosses half-way mark on fifth day
As part of the 10th installment of the scheme, the State government will distribute a total of Rs.7,676.61 crore into bank accounts of around 70.54 lakh farmers towards cultivation of about 1.53 crore acres during the Yasangi season.
Hyderabad: Over 50 lakh farmers have received farm investment support under Rythu Bandhu scheme for the ongoing Yasangi (Rabi) season in Telangana as on Monday. While disbursement of the farm investment amount started on December 28, officials are confident of covering the entire 70.54 lakh eligible farmers within the next four to five days.
As part of the 10th installment of the scheme, the State government will distribute a total of Rs.7,676.61 crore into bank accounts of around 70.54 lakh farmers towards cultivation of about 1.53 crore acres during the Yasangi season. The State government has deposited nearly Rs.4,000 crore into the bank accounts of over 50 lakh farmers till date.
Under the scheme, about Rs.65,559.28 crore will be distributed at the end of 10th installment. During the Vaanakalam (Kharif) season, a total of Rs.7,434.67 crore were deposited into the bank accounts of around 65 lakh eligible farmers.
In a statement, Agriculture Minister S Niranjan Reddy stated that the K Chandrashekhar Rao government in Telangana launched the Rythu Bandhu scheme to provide much-needed farm investment support as part of its efforts to make agriculture a remunerative profession.
Further, the State government had not only developed several irrigation projects, but also extended schemes like Rythu Bima, uninterrupted and free power supply among others to strengthen the agriculture sector.
While the number of beneficiaries under the Rythu Bandhu scheme have increased from around 50 lakh in 2017-18 to 70.54 lakh in 2022-23, the beneficiaries under the Pradhan Mantri Kisan Samman Yojana (PM-KISAN) have declined from about 11 crore to three crore within the last three years.
