Andhra Pradesh

A.P. govt. to spend ₹1,400 crore on SHG zero interest loan scheme

‘Money will be credited to beneficiaries’ accounts on April 24’

Chief Minister Y.S. Jagan Mohan Reddy on Monday said that the government would spend ₹1,400 crore on the zero interest loan scheme meant for the Self-Help Groups (SHGs) in the State.

At a review meeting on Monday, Mr. Jagan Mohan Reddy said that the amount would be credited to the accounts of SHGs members on April 24. The scheme would benefit 93 lakh women, he said.

“The government is losing ₹150 crore per day on account of the fall in revenues. Despite financial constraints, the government has paid ₹1,000 per family as assistance, and is also giving ration thrice a month. Already two rounds have been completed” said Mr. Jagan Mohan Reddy.

The zero interest scheme benefits about 8.78 lakh SHGs in the State.

Of this, 6.95 lakh SHGs are in rural areas, while 1.83 lakh are in urban areas. The SHGs in rural areas would receive benefits to the extent of ₹975 crore, while those in urban areas would get ₹425 crore.

Guidelines soon

The Finance Department on Sunday issued a G.O., allocating ₹765.19 crore to implement the zero-interest loan scheme for SHGs.

Further guidelines for the implementation of the scheme will be released soon, said a release issued said here on Monday.

Recommended for you
This article is closed for comments.
Please Email the Editor

Printable version | Jul 10, 2020 11:54:21 AM | https://www.thehindu.com/news/national/andhra-pradesh/ap-govt-to-spend-1400-crore-on-shg-zero-interest-loan-scheme/article31391558.ece

Next Story