Telangana govt to hold event for Rs 9000 cr payout to farmers

The Telangana government will hold a public function in Hyderabad to mark the transfer of about Rs 9,000 crore to farmers' accounts in just nine days under the 'Rythu Bharosa' investment support scheme, state Agriculture Minister Tummala Nageswara Rao said.

The event, which will be attended by Chief Minister A Revanth Reddy and his cabinet colleagues, will take place on Tuesday evening near the Rajiv Gandhi statue outside the Telangana Secretariat complex, Rao added.

The minister, who reviewed the arrangements for the event with officials on Monday, said Rs 9,000 crore has been transferred to farmers' accounts ahead of the monsoon to ensure they have funds to carry out agricultural activities.

Recalling the farm loan waiver of Rs 70,000 crore during the UPA regime led by then Prime Minister Manmohan Singh, Rao said the present Congress government has already spent Rs 21,000 crore on loan waivers.

Chief Minister Revanth Reddy launched the disbursal of funds under the 'Rythu Bharosa' scheme on June 16.

He had announced that the government would transfer Rs 9,000 crore in nine days under the scheme, despite economic challenges.

The 'Rythu Bharosa' scheme will benefit 70,11,984 farmers, covering 1.49 lakh acres, Reddy had said.