CM to reimburse Rs 46.90 crore interest today Govt reimburses interest subsidies twice a year

Chief Minister YS Jagan Mohan Reddy will reimburse Rs 46.90 crore as interest for the current installment to 4,07,323 eligible beneficiaries under Navaratnalu Pedalandariki Illu at 10 am at CM camp office on Thursday. The government reimburses interest subsidies twice a year.
While the banks are offering loans at 9-11 per cent interest rates, the Jagan government is providing loans to poor women at a low-interest rate of 3 per cent, reimbursing the interest beyond 3 per cent for these loans.
It has so far provided bank loans worth Rs 4,500.19 crore to 12.77 lakh beneficiaries. With a commitment to fulfil the dream of a home for poor women across the State, the Jagan government, besides giving free house site pattas to over 31 lakh beneficiaries, is providing a benefit of Rs 2.7 lakh for house construction, and is spending around Rs 1 lakh on infrastructure on an average per house.
The government also gives financial assistance of 1.8 lakh per unit, besides free sand worth Rs 15,000, and benefit of 40,000 by providing steel, cement, metal frames, and other construction materials at a discounted price and also a bank loan of Rs 35,000 at a low interest rate of 3 per cent.
The Jagan government has distributed 31 lakh house sites in 71,811.50 acres of land across the State. This is a record achievement that provides a safe and secure home to lakhs of poor women.  The market value of each house site ranges from Rs 2.5 lakh to Rs 15 lakh depending on the location.
Constructing 22 lakh houses across the State, the government has completed constructions of 8.6 lakh houses so far. Works on the remaining houses are progressing at a brisk pace.  Each woman beneficiary is to receive an asset worth at least Rs 5 lakh to Rs 20 lakh.
The total amount of bank loans provided so far to beneficiaries is Rs.4,500.19 crore. The number of beneficiaries eligible for interest reimbursement for the current installment is 4,07,323. The interest reimbursement being provided in this installment is Rs. 46.90 crore.