VIJAYAWADA: Agriculture Minister Somireddy Chandramohan Reddy on Tuesday said that farmers would soon get the third instalment of the debt redemption, along with 10 per cent interest.
Speaking to the media here, Somireddy said that the amount would be deposited in the bank accounts of eligible beneficiaries between September 10 and 30. As part of the third instalment, the government will deposit Rs 3,600 crore.
“The government, as per the promise made by Chief Minister N Chandrababu Naidu, has already credited Rs 4,493 crore in the accounts of 23.76 lakh farmers as part of the one-time settlement for those beneficiaries who had availed crop loan up to Rs 50,000,” the Agriculture Minister said.
A whopping sum of Rs 3,071.69 crore was distributed among 31.22 lakh farmers in Andhra Pradesh in the first instalment of the debt redemption scheme. In the second phase of the scheme, a fund of Rs 3,300 crore more was spent by the government to waive the loans of 36.99 lakh farmers.