CM releases Rs 395-crore interest-free loans for 3.95 lakh beneficiaries in AP

VIJAYAWADA: Chief Minister YS Jagan Mohan Reddy on Wednesday released Rs 395 crore under the Jagananna Thodu scheme towards interest-free loans through banks to benefit 3.95 lakh petty traders and artisans. Each beneficiary received  Rs 10,000 each to set up their own business.

He also released Rs 15.17 crore towards reimbursement of interest to benefit 13.28 lakh beneficiaries as they repaid their  loans promptly in the last six months. Jagan disbursed the loans virtually from his camp office in Tadepalle. He observed, “Besides becoming a part and parcel of the self-employed community, the beneficiaries are also helping the society indirectly in a great way.”

With 28,000 new petty traders and artisans, the YSRC government has so far sanctioned Rs 2,406 crore, benefitting 15,31,347 people. Of the total,  80% beneficiaries belong to SC, ST, BC communities and minorities. A sum of Rs 63.65 crore as interest has also been reimbursed.

Stating that eligible people can apply through village and ward secretariats, he said such people would be included in the scheme at the end of a social audit every six months.

“It is a matter of great pride for us as the State has sanctioned 24,06,000 loans of the total 39,21,000 in the country. Out of the total 15,31,347 beneficiaries, 8,74,745 traders and artisans are repaying their debt in a disciplined manner and have become an inseparable part of the scheme. It indicates a good change in society,” the Chief Minister expressed.

Jagan recalled that when he saw the hardships of several artisans and petty traders during his Praja Sankalpa Yatra, he had decided to end their woes by introducing Jagananna Thodu scheme. Besides artisans, including those who make Bobbili veena, Kondapalli and Etikoppaka toys, and puppets, the list of beneficiaries include fruit and vegetable sellers, vendors running tiffin centres and selling goods on motor cycles and auto rickshaws.

Deputy Chief Minister (Panchayat Raj and Rural Development) Budi Mutyala Naidu, Minister for Municipal Administration and Urban Development Audimulapu Suresh and senior officials were present.