Andhra CM disburses Rs 395 cr to 3.95 lakh beneficiaries under Jagananna Thodu Scheme

Amaravati (Andhra Pradesh) [India], August 3 (ANI): For the fifth consecutive time, in a bid to encourage and support small traders and traditional artisans with their businesses, Andhra Pradesh Chief Minister YS Jagan Mohan Reddy on Wednesday deposited Rs 395 crore into the bank accounts of 3.95 lakh beneficiaries of the Jagananna Thodu, at the camp office in Tadepalli.
The Chief Minister also disbursed Rs 15.96 crore as interest reimbursement for Jagananna Thodu loan beneficiaries in the past six months.
As of today, the government has credited interest-free loans of Rs 2,011 crore to 15,03,558 lakh people under the scheme while the interest of Rs 48.48 crore has been refunded by the government to 12.50 lakh beneficiaries.
"Without relying on moneylenders who charge exorbitant interest rates, the traditional artisans and small traders were able to do business with the government's assistance. During the padayatra, I was told about the hardships faced by people who had to pay Rs 100 per thousand rupees as daily interest. We implemented this scheme to relieve the people of the burden of the exorbitant interest and aid them," said Reddy.
To date, there are 5.08 lakh borrowers who have paid the amount on time for the second consecutive term. The government has decided to bear the interest burden of all these people.
In addition, the Chief Minister noted that he is in talks with banks to increase the loan amount for those who paid the loan amount on time and are eligible for the loan again.
Interestingly, 80 percent of the small traders are women and belong to SC, ST, BC, and minority communities. This falls in line with the government's aim to empower women and to bring social justice across the state.
"Around 80 per cent of the small traders are women. This is a testimony that the government is empowering more women and believes in social justice and doing everything to achieve it. While the previous governments failed, we are making a difference," he added.
Jagananna Thodu is of great help to small traders as the government is offering Rs 10,000 for traders/vendors, and handicraftsmen/women by way of an interest-free loan.
The government bears the entire interest burden for Rs 10,000 each through banks. (ANI)