Chief Minister Y.S. Jagan Mohan Reddy on Friday launched the ‘YSR zero percent interest subsidy loan scheme’, under which the government credited ₹1,400 crore directly to the accounts of 8.78 lakh self-help groups benefiting 91 lakh women.
Speaking on the occasion, Mr. Reddy said the money credited directly into the accounts of the SHG women would help them in these difficult circumstances.
‘Naidu scrapped it’
The scheme had initially been launched by former Chief Minister Y.S. Rajasekhara Reddy, he said, and alleged that it was scrapped by the TDP government headed by N. Chandrababu Naidu in 2016. “We have decided to revive the scheme in spite of the severe financial constraints so that our sisters, who are confined to their homes due to lockdown, will be able to tide over the difficult circumstances. The government has paid the interest component of the SHG loans as banks have been charging varying interesting rates ranging from 7-13%. With the disbursal of loan interest, each group stands to gain by ₹20,000 to ₹40,000,” said Mr. Jagan Mohan Reddy.
Further, he said that the welfare of children and women was top priority of his government. Under the Amma Vodi scheme, benefiting 82 lakh children, an amount of ₹15,000 was being directly credited into the accounts of the mothers.
House sites
“Had coronavirus not spread, we would have completed distribution of 27 lakh house sites by this time. Now, we have decided to distribute the sites on July 8, the birth anniversary of Rajasekhara Reddy,” he said.
The Chief Minister also said that several Acts had been strengthened to protect the rights of women. The Disha Act was brought in to provide succour to the women in distress. Thirteen Disha police stations were opened in the State, he added. Ministers P. Ramachandra Reddy and Botcha Satyanarayana were present.
