Chief Minister K Chandrashekhar Rao announced on Sunday the distribution of farm investment support of Rs.5,000 per acre to over 65 lakh eligible farmers under the Rythu Bandhu scheme for the Yasangi (Rabi) season, which could bring cheer to farmers across Telangana in the New Year. The funds will be deposited into the farmer's bank account beginning December 28.
The Chief Minister also directed Finance Minister T Harish Rao and other officials to release Rs.7,600 crore in this regard and to ensure that the funds are disbursed before the January Sankranti festival.
Over the nine seasons since the Rythu Bandhu scheme's inception in 2017, nearly Rs.57,881 crore has been deposited into farmers' bank accounts. Farmers will receive approximately Rs.65,500 crore at the end of the latest instalment. Farm investment support will be deposited into the bank accounts of farmers with one acre or less first, followed by those with larger tracts of land in a phased manner.
Officials were directed to ensure that the Rythu Bandhu amount is deposited into farmers' bank accounts without any cuts.
The Rythu Bandhu farm investment support scheme was launched by the Chief Minister five years ago with the goal of providing Rs.4,000 per acre per season, which was later increased to Rs.5,000 per acre per season, for a total of Rs.10,000 per acre per year. The scheme, which is credited with bringing about a revolution in the country's agricultural sector, is producing excellent results.
Rythu Bandhu is the country's first direct farm investment scheme, and it has prompted several states and the union government to follow suit. Under the Rythu Bima scheme, the Telangana government strengthened the scheme by providing free irrigation and electricity as well as free insurance coverage to all farmers. This resulted in a paradigm shift in agriculture, with Telangana emerging as a leader in paddy production.
During the current fiscal year, the union government imposed cuts to Telangana totaling Rs.40,000 crore in terms of funds released and loans borrowed for the implementation of various development schemes and programmes. Despite the Centre putting up roadblocks and failing to release funds owed to Telangana on time, the State government is sticking to its promises, particularly those made to farmers. Farmers in other states are now demanding similar schemes from their respective state governments as a result of the Chief Minister's pro-agricultural vision.
