Jagan to credit first phase of YSR Rythu Bharosa-PM Kisan Yojana on Thursday

Andhra Pradesh Chief Minister, YS Jagan Mohan Reddy will distribute money by pressing a button that will deposit it straight into the bank accounts of farmers.

Hyderabad: The Andhra Pradesh Chief Minister, YS Jagan Mohan Reddy, would distribute the first phase of the year’s YSR Rythu Bharosa-PM Kisan Assistance to 52,30,939 farmers around the state for the fifth consecutive year on June 1. At a centralised ceremony at Pattikonda in the Kurnool district, the Chief Minister will distribute money by pressing a button that will deposit it straight into the bank accounts of farmers. He would then give a speech at a public gathering at St. Joseph English Medium High School.

Each benefiting farmer will receive a direct transfer of Rs 5,500 into their account. In addition to this, Rs 2,000 will be transferred in the same manner under PM KISAN and credited to the farmers’ accounts right away.

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The YSR Rythu Bharosa-PM Kisan provides aid of Rs 13,500 in three payments each year. During the Kharif season in May, the first payment of Rs 7,500 will be credited. For the Kharif crop harvest, the second installment of Rs 4,000 is paid in October, and the third installment of Rs 2,000 is paid in January or February.

Further, YS Jagan Mohan Reddy will directly deposit an amount of Rs53.62 crore as an input subsidy into the beneficiary accounts by pressing the button. The input subsidy of Rs 44.19 crore is given to 44,999 affected farmers. The beneficiaries are those farmers who were affected by the unseasonal rains in March, April, and May 2023.