Pending ‘zero interest’ of ₹700 crore will be released on Nov. 17: Minister

Agriculture Minister K. Kannababu on Sunday said that Chief Minister Y.S. Jagan Mohan Reddy would release ₹700 crore towards reimbursement of the ‘zero interest’ on crop loan to farmers, which had been kept pending by the TDP government for the 2014-19 period.

Addressing the media here, Mr. Kannababu said that former Chief Minister N. Chandrababu Naidu had not reimbursed ‘zero interest’ amount of ₹1,200 crore for a period of five years.

“The Finance Ministry has given its nod to release the pending ‘zero interest’ amount to the farmers. Mr. Jagan Mohan Reddy will release the amount on November 17, which will be directly deposited into the bank accounts of the farmers who have already paid the interest to the banks on the crop loan availed,” the Minister said.

“The government has made a promise to the farmers to reimburse the amount for the pending period beginning from 2014 kharif,” he said.

Input subsidy

“Input subsidy of ₹510 crore for kharif-2019 will also be released on November 17. However, claims of just ₹205 crore have been received from the farmers by Sunday. More than 10.63 lakh farmers will get input subsidy for the season,” the Minister said.


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