He said the farmers will be provided financial assistance for investment, adequate marketing facilities and will also be given the support from the departments concerned to make agriculture profitable.
The chief minister desired that suicides by farmers should stop and that the state should become a role model for agriculture in the country, stated an official release.
"The state government is ready to spend thousands of crores for the benefit and welfare of farmers," the release quoted Rao as saying.
The Minister for Agriculture Pocharam Srinivas Reddy, State Planning Commission Deputy Chairman S. Niranjan Reddy, MLA Konda Surekha and Principal Secretary (Agriculture) Parthasarathy attended the meeting.
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"We have decided to share the increasing burden of investment on farmers. The government will bear Rs 4000 per acre for the purchase of fertilisers. Besides this, we are also improving the marketing facilities. We will make all arrangements to get the Minimum Support Price," Rao said.
Consequently, an official will oversee every 5000 acre of land, it added.
The state government is also mulling to increase the number fo mini soil testing centres, as per the release.