VIJAYAWADA: Chief Minister YS Jagan Mohan Reddy has sought the bankers’ help in doubling farmers’ income and appreciated them for achieving 99 per cent of the crop loan target. Addressing the 213th State Level Bankers’ Committee (SLBC) meeting on Friday, the Chief Minister said the focus was on decreasing the cost of cultivation, providing proper market facilities for the farm produce and helping the farmers during calamities.
On the occasion, the Chief Minister elaborated on various initiatives of the government. He said the State government has been providing financial assistance of Rs 13,500 per annum to farmers through the Rythu Bharosa scheme. As 50 per cent of the farmers have less than half a hectare of land in the State, 80 per cent of investment cost will be covered through the scheme, Jagan pointed out.
The Chief Minister said Rs 7,500 will be credited to the bank accounts of the beneficiaries before Kharif in May, Rs 4,000 in October and Rs 2,000 for Sankranti in January. “The government has cleared all dues of the previous TDP government pertaining to interest-free loans and is encouraging the farmers to take interest-free loans. The government is paying the crop insurance premium, thereby lessening the farmers’ burden,” he explained.
The government has set up 10,641 Rytu Bharosa Kendras to assist the farmers from sowing seeds to selling crops. Fertilisers and pesticides are made available in the RBKs. All these initiatives are helping the farmers become self-reliant, Jagan said.
Jagan urged the bankers to come forward to disburse loans to tenant farmers as Crop Cultivated Right Cards (CCRCs) have been distributed to them. He asked the bankers to support MSMEs since they are playing a key role in the State’s economy.
“The banks should assist the MSMEs in restructuring the loans. The government has paid Rs 1,100 crore subsidy amount pending to industries from 2014 and waived off the fixed electricity charges during COVID,” he explained.
Elaborating on how YSR Cheyutha and YSR Aasara schemes help women empowerment and how MoUs with Amul, Allana, ITC, Proctor and Gamble, HUL and Reliance will help in achieving the goal, the Chief Minister asked the bankers to prepare an action plan as per the schedule to provide assistance to women. He directed the officials to liaise with the bankers and ensure that the distribution takes place as per the schedule. He said the SHGs have deposited Rs 7,500 crore in their accounts for 2020-21.
Though the interest paid by the banks is only Rs 3 per cent, the same banks have been charging an interest between 11 per cent and 13 per cent. He asked the bankers to consider the fact that the government has been paying the interest on timely paid loans.
The Chief Minister said the State government is implementing Jagananna Thodu scheme, under which Rs 10,000 is provided as interest free loan to street vendors. Stating that the government will pay the interest on the loans taken by the vendors from banks, he urged the bankers to come forward to support the street vendors. Steps have been taken to complete the construction of TIDCO houses at the earliest, he said and sought the support of the bankers.
SLBC president G Rajkiran Rai, who is also Union Bank of India MD, hailed the government initiatives and said the activities of banks and the financial assistance provided have reached the targets. Ministers Botcha Satyanarayana, Kurasala Kannababu and Mekapati Goutham Reddy were present.