ANI | Updated: Jun 06, 2019 15:14 ISTAmaravati (Andhra Pradesh) [India], June 6 (ANI): Scrapping the previous TDP government's "Annadata Sukhibhava" scheme which promised to provide Rs 10,000 to farmers, Andhra Pradesh Chief Minister YS Jaganmohan Reddy on Thursday announced a new scheme "Rytu Bharosa" under which the cultivators will be given Rs 12,500.

Rytu Bharosascheme was one of the major promises Reddy made during his poll campaign.The scheme will be implemented from October 15.In the review meeting with the agricultural department officials, Jagan said that steps should be taken to provide quality seeds, pesticides and insecticides to farmers.The Chief Minister also said that he will introduce Market Stabilization Fund of Rs.

3000 crores in the budget, which will be used by farmers to cover up any losses.Jagan further said that his government will take full responsibility of providing insurance to farmers.

The government will pay the premiums, he informed.(ANI)