CM to release Rs 395 crore to 3.95 lakh beneficiaries today

PNS|Vijayawada

In yet another welfare initiative, Chief Minister YS Jagan Mohan Reddy is all set to release Rs 395 crore worth of interest-free loans of Rs 10,000 each to 3.95 lakh petty traders and artisans through banks under the ‘Jagananna Thodu’ scheme in addition to the reimbursement of Rs 15.17 crores interest at the CM’s Camp Office at Tadepalli on Wednesday.

Jagan Mohan Reddy said, “The scheme will put an end to exorbitant interest rates. It was designed after closely witnessing the hardships of petty traders and artisans of handicrafts, who are extending services with small profits while struggling hard to repay the interests and compound interests to loan sharks”.

The officials said that to make poor petty traders, and artisans self-sustainable, interest-free loans are provided at the rate of Rs 10,000 per annum by the Jagan Government is the first in the country in extending the highest number of interest-free loans. They said that a total of Rs 2,406 crore worth of interest-free loans are distributed by the Jagan government to petty traders including Rs 395 crore being distributed to 15,31,347 beneficiaries, of which 8,74,745 are petty traders, who have requested and availed loan for the second time after repaying the first loan in time).

The officials said that those having permanent or temporary shops in an extent of 5 ft in length and 5 ft in width in villages or towns, the street vendors selling various products including vegetables, fruits, and food products on push carts, running roadside tiffin centres, selling products in baskets and those vending products carrying on motorcycles and auto rickshaws and those artisans indulged in brass work, Bobbili Veena makers, Etikoppaka and Kondapalli toy makers, Kalamkari and puppet makers, lace makers and other professional artisans are eligible for “Jagananna Thodu”.

Ministers Dr. Audimulapu Suresh and Budi Mutyala Naidu said that Jagan Government so far has repaid Rs. 63.65 crore as an interest component including Rs. 15.17 crore being paid today to 13.28 Lakh beneficiaries, who have repaid their loans in time. They said that as a result of the initiatives of the Jagananna government, banks are increasing the loan amount to street vendors, and handicrafts artisans who are repaying loans on time. They explained that loan amounts are increased every year from Rs 10,000 to Rs.11,000, Rs.11,000 to Rs.12000, and from Rs.12,000 to Rs. 13,000.

The two ministers said that for assistance and complaints regarding “Jagananna Thodu”, the people can call the toll-free number 1902 to resolve their issues and help. They mentioned that those who are eligible and whose names were not registered in the beneficiaries list need not worry. They further mentioned that they can apply again in Village / Ward secretariats and loans will be sanctioned by coordinating with banks after due verification of applications. The duo ministers added that CM Jagan will deposit financial assistance with the click of a button under ‘Jagananna Thodu’ at 11 am on Wednesday.