Chief Minister releases ₹395 crore under Jagananna Thodu in Andhra Pradesh

Under the scheme, the government provides interest-free loan of ₹10,000 each to petty traders and artisans

January 11, 2023 06:34 pm | Updated 08:20 pm IST - VIJAYAWADA

Chief Minister Y.S. Jagan Mohan Reddy releasing the financial aid under the Jagananna Thodu scheme, at his camp office on Wednesday.

Chief Minister Y.S. Jagan Mohan Reddy releasing the financial aid under the Jagananna Thodu scheme, at his camp office on Wednesday.

Chief Minister Y.S. Jagan Mohan Reddy on Wednesday released ₹395 crore under the Jagananna Thodu scheme, under which interest-free loan would be provided through banks to benefit 3.95 lakh petty traders and artisans at ₹10,000 each.

The Chief Minister also released ₹15.17 crore towards reimbursement of interest to benefit 13.28 lakh beneficiaries who had availed of and repaid the loans promptly in the last six months.

Releasing the amount virtually from his camp office, the Chief Minister said, “With today’s disbursal benefiting 28,000 new petty traders and artisans, the State government has so far reimbursed ₹63.65 crore towards interest alone while the total loan amount sanctioned so far is ₹2,406 crore, benefiting 15,31, 347 people, 80% of them belonging to the SC, ST, BC and minority communities,” Mr. Jagan Mohan Reddy said.

‘Out of the total 15,31,347 beneficiaries, 8,74,745  are promptly repaying their loans, and have become an inseparable part of the scheme. It indicates a good change in society,” he said.

“Eligible people who have not availed themselves of the scheme for any reason can apply through the village and ward secretariats, and such people will be included in the scheme at the end of the social audit every six months,” he said.

Mr. Jagan Mohan Reddy said he had seen the hardship of the artisans and petty traders during his padayatra, and decided to put an end to their woes though the scheme.

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

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