Andhra Pradesh CM YS Jaganmohan Reddy announced the launch of ‘YSR zero interest loans’ for farmers and offered to give Rs 84,000 crore worth of crop loans this year. “If the farmers repay this loan within the stipulated time, the rate of interest would be paid to the banks on their behalf,” he said at the state assembly.
Blaming his predecessor N Chandrababu Naidu for betraying people on loan waiver, he said that the TDP chief had promised a total waiver of farm loans which stood at ?87,612 crore. However, after coming to power, Naidu waived off just Rs 24,500 crore of which the TDP government paid just ?15,000 crore.
Speaking on the prevailing drought conditions in the state, Jagan promised Rs 175 crore from the CM’s development fund to provide drinking water to people. He said he would give ?1 crore each to the 175 MLAs to address the drinking water problem in their respective assembly constituencies.
He further said that his government is giving 9 hours of free power supply during day time to farmers. “So far 60% of feeders are covered. The balance feeders would be provided by June 2020 and all farmers will get free power during day time,” he said, while adding that ‘YSR Rythu Bharosa’ will also be rolled out from 15th October this year, giving Rs 12,500 to every farmer for their crops.
AP CM YS Jaganmohan Reddy announces launch of ‘YSR zero-interest loans’ for farmers
