Amaravati, May 15: Despite the financial constraints the state was facing post COVID-19 lockdown, the first installment of YSR Rythu Bharosa-PM Kisan scheme would be transferred to farmers' bank accounts on Friday.

Under the scheme, farmers would get financial assistance of Rs 13,500 per annum in three phases, the first being Rs 7500, followed by Rs 4000 to be released in October and the final installment of Rs 2000 will be credited on Sankranti in January, an official release said on Thursday.

"As promised by Chief Minister YS Jagan Mohan Reddy, the first installment of YSR Rythu Bharosa-PM Kisan scheme will be transferred into farmers' bank account on May 15, despite the financial constraints and the government will live up to its image of being farmer-friendly," it said.

Nearly 49 lakh families will be benefited by the scheme under which the first installment would be credited into the farmers' bank account as an incentive ahead of the khariff sowing season, it said.

The amount to be credited in the first installment is Rs 3,675 crores. It further said that Rs 2,000 was already credited into farmers' accounts in April while the remaining Rs 5,500 would be given on May 15 for the current fiscal.

The scheme is applicable to the tenant farmers belonging to SC, ST, BC and Minorities and those farming endowment and forest lands as well. Rythu Bharosa is one of the nine major promises of "Navaratnalu" (nine flagship programmes) made by Andhra Pradesh Chief Minister Y S Jagan Mohan Reddy during his "Padayatra" (foot march).

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