Govt. releases ₹431 crore under Jagananna Thodu scheme in Andhra Pradesh

Govt. releases ₹431 crore under Jagananna Thodu scheme in Andhra Pradesh. It will help 3.95 lakh small and marginal street vendors, and artisans avail of interest-free bank loan of ₹10,000 each. The amount also includes an interest subvention of ₹13.64 crore, benefiting 5.81 lakh people who have availed of bank loan and repaid them on time.

The State government on January 11 released ₹431.58 crore under the Jagananna Thodu scheme benefiting 3,95,000 small and marginal street vendors, and artisans with interest-free bank loans of ₹10,000 each.

The eighth tranche of assistance includes an interest subvention amounting to ₹13.64 crore, benefiting 5.81 lakh beneficiaries who had availed of bank loans and repaid them promptly on time.

Releasing the amount virtually from his camp office at Tadepalli, near here, Chief Minister Y.S. Jagan Mohan Reddy said the scheme was of immense help for the petty traders such as vendors of vegetables, fruits and other food products. Artisans making Bobbili veena, Kondapalli and Etikoppaka toys, Kalamkari and lace items, and puppets were also beneficiaries of the scheme, he added.

“The loan recovery rate has gone up to more than 95%. It is a matter of pride that 87.13% of the beneficiaries are women, and 79.14% of them are from the SC, ST, BC and minority groups,” he said.

“In addition to the Aasara and Cheyutha schemes, the Jagananna Thodu has become a major instrument in the transformation of rural economy, which is tangible in the form of the Non-Performing Asset (NPA) value of the self-help groups coming down to less than 0.3% from 18% during the TDP term,” the Chief Minister said.

The scheme had become a role model for the entire country, Mr. Jagan Mohan Reddy said, and added that while 58,65,000 people benefitted from the PM Swanidhi scheme across the nation, more than 16 lakh street vendors and artisans benefitted in the State alone.

He said the official machinery made it possible with the active role of the village and ward secretariat staff and volunteers.