Andhra Pradesh Chief Minister YS Jaganmohan Reddy on Tuesday launched 'YSR Rytu Bharosa - PM KISAN' scheme at Vikrama Simhapuri University premises in Nellore's Kakuturu village.
Under the scheme, the state government will give input subsidy of Rs 13,500 to farmers in the state. Out of the amount, The Centre will be contributing Rs 6000 under PM KISAN Yojana.
During his address at the event, the Chief Minister said, "I had given assurance of 'Rytu Bharosa' in 2017 and it was the first promise in our election mfesto. We have improvised upon our promise. I had assured Rs 50,000 in five years. But now we are giving Rs 67,500 in five years."
"Farmers faced severe losses during the previous government. In the past five years, lakhs of farmer families suffered financial losses and many farmers, unable to repay the debts, committed suicides," he added.
The state government will credit Rs 7500 in May, Rs 4000 in October and Rs 2000 in January during Sankranti festival time.
"Tenant farmers will also be benefited under this scheme. As many as 54 lakh farmers will benefit from this scheme," Reddy added.
Reddy stated that the state government will fork out Rs 2164 crores in farmer insurance and in addition, Rs 3000 crore market stabilisation fund has also been set up.
"If any farmer dies accidentally, Rs seven lakh compensation will be paid. If a cow or buffalo dies, compensation in the range of Rs 15000 to Rs 30000 will be paid. If goat or sheep dies, Rs 6000 compensation will be paid," Reddy stated.
During the program, YS Jagan also paid tributes to former president APJ Abdul Kalam on his 88th birth anniversary.
( With inputs from ANI )