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The government has so far spent Rs. 2,955.79 crore under the scheme which includes Rs. 74.69 crore paid in interest. (photo: News18)
CM said that small merchants, who were paying off loans immediately and taking frequent loans, could get an annual increment of Rs 1,000 over the loan amount of Rs 10,000.
Andhra Pradesh Chief Minister YS Jagan Mohan Reddy on Tuesday issued Rs 560.73 crore under the ‘Jaganna Thodu’ scheme benefiting 5,10,412 small and marginal street vendors and artisans with interest-free bank loans.
The amount, which was issued in the first tranche for the fourth consecutive year, includes interest-free bank loans amounting to Rs. 549.70 crore with a balance of Rs. 11.03 crore being paid as interest subsidy. It will be credited directly to their bank accounts. Beneficiaries also include 4,54,000 small traders who have benefited from recurring loans.
Physically releasing the amount at the camp office in Amaravati, the Chief Minister said that Andhra Pradesh is the only state implementing the scheme to help thousands of tradesmen and artisans. He noted that the number of loan recipients is higher in the state than in the rest of the country.
He said that small merchants, who were paying off loans immediately and taking frequent loans, could get an annual increment of Rs 1,000 on the loan amount of Rs 10,000 and could avail a maximum loan of Rs 13,000 under the scheme.
This scheme has been designed to help small tradesmen and artisans who depend on fish sharks for their daily working capital, so far 15,87,492 small tradesmen and artisans have benefited including 13,29,011 beneficiaries who have taken out loans multiple times.
The government has so far spent Rs. 2,955.79 crore under the scheme which includes Rs. 74.69 crore paid in interest.
The Prime Minister noted that small traders are also providing a great social service to the people and helping others by selling vegetables, fruits and food products in push carts, baskets and on motorbikes and rickshaws in the streets.
He said artisans working on brass items and making Bobbili Veena, Kondapally, Etikoppaka and Kalankari toys, lace items and dolls are also receiving loans under the scheme.
“I saw their problems during Padayatra and the idea of launching the program to save them from the loan sharks was born. The interesting part of it is that 80 per cent of the beneficiaries are women and again, majority of them belong to SCs, SCs, community centers and minorities.
He said that small merchants and craftsmen, who have not yet benefited from the program, can register in the scheme by calling the toll-free number 1902 or communicating with the volunteers and staff of the village and ward secretariat.
He thanked the bankers, MEPMA officials, village and district secretariats for successfully managing the programme.
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