Chandrababu Naidu likely to inaugurate Farmers Empowerment Corporation on Oct. 21

Andhra Pradesh Chief Minister N. Chandrababu Naidu.

The State government has registered the Farmers Empowerment Corporation by depositing paid up capital of Rs.1 crore. The corporation will be established at the Animal Husbandry Livestock College Complex opposite Gannavaram airport.

Chief Minister N. Chandrababu Naidu is likely to inaugurate the corporation’s office on October 21. It is learnt that the government will also transfer Rs. 5,000 crore as grant-in-aid to the corporation towards the first instalment under Debt Redemption Scheme. The amount will be disbursed to the accounts of farmers for repayment of 20 per cent of their outstanding crop loan under interest subvention scheme.

Authorities are reviewing various designs for the corporation logo and are likely to zero in on the final design by Saturday. The corporation will handle issues related to farmers, farming practices, loans, input subsidy etc, the authorities said.

Meanwhile, Agriculture Department authorities have taken up renovation works at the livestock college complex to house the corporation office spread across 3,000 sft on the first floor of the building. “Civil works, including painting, electrification etc, will be completed by Sunday,” said V. Narasimulu, Joint Director, Agriculture Department.