AP Govt to roll out interest-free loans, insurance

The Andhra Pradesh government headed by chief minister Y S Jaganmohan Reddy is getting ready to roll out yet another monetary benefit to the farmers. Having rolled out the much-talked-about YSR Rythu Bharosa, giving Rs 13,500 benefit to the farmers across the State. The amount would be deposited directly into the bank accounts of the farmers. This amount is paid in three instalments in October, January and May every year.

While the monetary benefit for the farmers is being rolled out, the chief minister had announced zero per cent interest loans to the farmers and crop insurance. The chief minister said that the government would launch the zero per cent interest loans from the next kariff season starting in June 2020. The farmers would get interest free loans up to Rs 1 lakh and repay the loan amount within the stipulated period.

The state government had already deposited Rs 2,164 crore towards insurance premium to 54 lakh farmers across the State. Every farmer would have to pay Rs 1 towards crop insurance premium and repay the loan within the scheduled time. The free crop insurance would be then applied to these farmers, the chief minister said.

The chief minister further announced that the farmers would get 9 hours power supply in the day time from July 2020. The State government had already paid Rs 1700 crore to upgrade the power lines and sub-stations to give free power to the farmers, he said.

The government would also promote food processing units across the State, establishing one such unit for every two Assembly constituencies. Every mandal headquarters would have a godown for the farmers to store their agriculture produce. The government would also open stores attached to the village secretariats to make quality seed, fertilisers and pesticides available to the farmers. These shops would come up in every village, the chief minister said.

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