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CMO Andhra Pradesh, YS Jagan Mohan Reddy, launched YSR Zero Interest Crop scheme on April 20, 2021. Under this scheme farmers were provided crop loans up to Rs. 1 lakh during the rabi season (2019-20). This scheme covers the farmers who availed crop loans up to Rs. 1 lakh and repaid the same within 1 year. CM disbursed the interest subsidy amount directly in the bank accounts of the 6.27 lakh farmers. Total amount disbursed is Rs. 128.47 crores. This scheme is launched in the state for the welfare of the farmers thereby relieving them from the vicious debt circle.
Scheme Overview:
| Scheme name: | YSR Zero Interest Crop Loan Scheme |
| Scheme Under: | Andhra Pradesh Government |
| Launched by: | CM YS Jagan Mohan Reddy |
| Beneficiaries: | Farmers in the state availing crop loans up to Rs. 1 lakh and repaying the same within 1 year |
| Benefit: | Interest free crop loans |
| Objective: | Welfare of the farmers thereby relieving them from the vicious debt circle |
Objectives and Benefits:
- The main objective of the scheme is welfare of the farmers across the state
- Under this scheme, interest subsidy is provided to the farmers availing crop loans and repaying the same within 1 year
- It aims to free the farmers from the vicious circle of money lenders rather government will directly provide them interest subsidy on loans taken
- Loans provided under this scheme are interest free/ zero interest basis
- Burden of interest will be borne by the government
- Repayment of loans will be in easy installments
- It aims at welfare and benefit of the farmers in the state
Scheme Details:
- YSR Zero Interest Crop loan is launched by the CM YS Jagan Mohan Reddy
- This scheme is mainly launched for the farmers across the state
- Under this scheme all the farmers who take crop loans up to Rs. 1 lakh and repay the same within 1 year will be covered
- Interest subsidy will be provided to the beneficiary farmers under this scheme
- On April 20, 2021 CM disbursed interest subsidies into total 6.27 lakh beneficiary farmers accounts directly
- Total of Rs. 128.47 crores were disbursed by the CM as interest subsidy
- The interest burden is borne by the state government itself
- If the beneficiary repays the loan on time the government will reimburse the interest amount is the basic concept of the scheme
- It aims at relieving the farmers from the vicious debt circles
- Financial assistance through this scheme aims at benefit and welfare of the farmers in the state
