Despite facing a financial crunch and emergency situation emerging out of the COVID-19 pandemic, the YS Jagan Mohan Reddy government will transfer the first installment of YSR Rythu Bharosa-PM Kisan scheme into the bank accounts of farmers on May 15.
About 49 lakh families will benefit from the YSR Rythu Bharosa-PM Kisan scheme, under which the first installment would be credited into the farmers’ bank account ahead of the Kharif sowing season. For the second year in a row, farmers will get financial assistance of Rs 13,500 per annum in three phases — Rs 7,500 till May 15, Rs 4,000 in October and Rs 2,000 on Sankranti.
The State government has already credited Rs 2,000 into the accounts of the farmers in April , so the remaining Rs 5,500 will be transferred on Friday. The scheme is also applicable to the tenant farmers belonging to SC, ST, BC and Minorities and those farming endowment and forest lands.
Rythu Bharosa is one of the nine promises (Navaratnalu) made by YS Jagan Mohan Reddy during his padayatra before the elections. During 2019-20 fiscal, the State government spent Rs 6,534 crore towards Rythu Bharosa-PM Kisan scheme, by paying all the three installments.
49 lakh families will benefit from YSR Rythu Bharosa-PM Kisan scheme
Rs 13,500 per annum in three phases — Rs 7,500 till May 5, Rs 4,000 in October and Rs 2,000 on Sankranti
Rs 3,675 crore: Money to be spent by govt for first phase