Hyderabad: Over Rs 7,500 crore would be disbursed to 61.49 lakh farmers in the state Telangana under the TRS government's 'Rythu Bandhu' financial assistance scheme from Monday, Chief Minister K Chandrasekar Rao said.
A sum of Rs 7,515 crore would be given to 1.52 crore acres of cultivated lands of 61.49 lakh farmers at the rate of Rs 5,000 per acre for the 2020 summer season, he announced after a review meeting on the scheme.
Rao instructed the officials concerned to ensure that every farmer gets the assistance in his bank account directly for each acre, a release from his office said.
At the meeting, officials said farmers can sell their crop anywhere under the new farm laws and the state government need not set up purchase centres in villages.
They also noted the government incurred losses because it bought the product by paying minimum support price (MSP) but sold at lower rates in markets due to lack of demand.
The review meeting extensively discussed matters including regulated farming policy, sale and purchase of agriculture produce in the markets, making available required seed and fertilisers in adequate quantity on time, transfer of required technical knowledge to the farmers.
Ever since Telangana state was formed, the government had incurred losses to the tune of Rs 7,500 crore due to purchase of various crops by the state government, officials said at the meeting, the release said.
"Due to the coronavirus pandemic, the government had set up purchasing centres in villages itself and purchased the agriculture produce on a humanitarian consideration that farmers should not suffer losses.