Amaravati, The 71st birth anniversary of former Andhra Pradesh Chief Minister Dr Y.S. Rajasekhara Reddy was celebrated as farmers' day on Wednesday with Chief Minister Y.S. Jagan Mohan Reddy laying the foundation stone for various projects and announcing slew of welfare measures.

After paying tributes to his father at Idupulapaya in Kadapa district, Jagan Mohan Reddy unveiled his statue and laid foundation stones for various developmental projects at IIIT-RK Valley.

He also inaugurated a new academic block in IIIT-RK Valley campus built with an estimated cost of Rs 139.83 crore. The new academic block houses seven engineering departments along with the library, student activity centre and canteen facilities.

Jagan Mohan Reddy also inaugurated three solar power plants with 1 MW production capacity by each plant. Through these solar power units, the institution is likely to save Rs 1.51 crore every year in power charges.

He also laid a foundation stone for the construction of a computer centre, which would house four computer labs and two lecture halls. With an estimated budget of Rs 10.10 crore, this computer centre will be established in 0.75 acres and with a seating capacity of 616.

Later speaking at the Farmers' Day function held at the Camp Office in Amaravati, the Chief Minister announced that the government is depositing Rs 1,150 crore into the bank accounts of 57 lakh farmers which is the pending dues of subsidy under zero interest for the period from 2014 to 2018.

He also cleared the dues of the previous government to five sugar factories in the cooperative sector running into Rs 54 crore, benefiting 36,000 farmers.

He recalled the welfare measures taken up by YSR which have evoked new hope in the lives of farmers through various schemes, including free power.

"Our Government is providing Rs 50,000 to every farmer on an average. YSR is remembered though Aarogyasri, fees reimbursement, 108 ambulance service among other welfare schemes," he said.

Taking forward the mechanization of farming, the government placed the implements and machines at Rythu Bharosa Kendras (RBKs) from where the farmers can place orders and take delivery directly. He said the government placed machines and implements worth Rs 1,572 crores in RBKs, he said.

Jagan Mohan Reddy said during the past 13 months the government provided Rs 10,242 crores under Rythu Bharosa at Rs 13,500 to each famer family besides starting 10,641RBKs, set up Rs 3,000 crore Market Stabilisation Fund to check price fluctuation of agriculture produce. "We are buying perishable agri goods from farmers directly and ensuring remunerative prices to farmers. We have also cleared Rs 8,655 crore power subsidy dues of previous government among other dues as well and we are paying premium on behalf of farmers towards crop insurance."

Earlier, the Chief Minister laid the foundation stone for 125 feet tall BR Ambedkar Statue through video conference. The statue will be coming up in the heart of Vijayawada city.