Mr. Y.S. Jagan Mohan Reddy, the Chief Minister of Andhra Pradesh, disbursed the interest free loan amount to beneficiaries under the Jagananna Thodu Scheme.
On the 11th of January, Wednesday, Mr. Y.S. Jagan Mohan Reddy released the funds at the Yuvajana Sramika Rythu Congress Party (YSRCP) Camp Office, in Tadepalli, Andhra Pradesh. In 2023, approximately 3.95 lakh eligible beneficiaries would receive an amount of Rs. 10,000 each under the scheme.
In regard to this, the Y.S. Jagan Mohan Reddy led YSRCP Government approved and released an amount of Rs. 395 crores. In addition to the new loan amount, the State CM also reimbursed the interest amount of the last six months, worth Rs.15.17 crores to the beneficiaries’ bank accounts.
The State Government’s Jagananna Thodu scheme, launched in 2020, provides financial assistance to small vendors and hawkers in Andhra Pradesh. Under the scheme, eligible vendors and hawkers can apply for interest free loans starting from Rs. 10,000. Vegetable vendors, fruit vendors, small shopkeepers, pushcart vendors and traditional artisans are eligible to apply for the scheme. Besides the loan, the State Government would also bear the interest money of the loan, which would be credited to the bank accounts of the beneficiaries, who have paid the loan money on time.
The decision to launch the scheme was taken to empower small vendors and assist them financially to grow their business. Another major objective of the scheme is to free vendors from heavy interest on the loans taken from private parties.
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