YS Jagan releases Rs 560.73 cr under Jagananna Thodu to small traders

AMARAVATI: Andhra Pradesh Chief Minister YS Jagan Mohan Reddy on Tuesday disbursed Rs 560.73 crore under Jagananna Thodu to assist 5.10 lakh small traders and craftsmen with interest-free loans of Rs.10,000 each.

The amount was released virtually by the touch of a button by the Chief Minister for the fourth consecutive year, at his camp office in Tadepalli. This includes interest-free bank loans amounting to Rs. 549.70 crore with the balance of Rs 11.03 crore being paid towards interest subvention. The amount would be directly credited into their bank accounts. The beneficiaries include 4,54,000 petty traders who had availed repeat loans.

Speaking on the occasion, YS Jagan said that “Andhra Pradesh is the only State which has been implementing the Jagananna Thodu scheme to help lakhs of petty traders and artisans. The number of loan beneficiaries is higher in the State than the rest of the country.” He said that the petty traders, who had been repaying the loans promptly and taking repeated loans, could get an annual increment of Rs 1,000 on the loan amount of Rs 10,000 could avail a maximum loan of Rs 13,000 under the scheme.

The Chief Minister said that the scheme was designed to help petty traders and traditional artisans who depend on loan sharks for daily working capital. “So far, as many as 15,87,492 petty traders and artisans have benefitted through the scheme, including 13,29,011 beneficiaries who have taken loans multiple times. The State Government has so far spent Rs 2,955.79 crore under the scheme which includes Rs 74.69 crore paid towards interest,” YS Jagan said.

Jagan observed that the petty traders were also doing great social service to people and helping others by selling vegetables, fruits and food products in push carts, baskets, on motorcycles and auto rickshaws on the streets. Artisans who work on brass items and make Bobbili Veena, Kondapally and Etikoppaka toys, Kalankari and lace items and puppets were also receiving loans under the scheme, he said.

“I came across the hardships of tiny traders and artisans during my padayatra and the idea of launching the scheme was born to save them from loan sharks. The interesting part is that 80 percent of the beneficiaries are women and again, the majority of them belong to SCs, STs, BCs and Minorities,” YS Jagan said. He added that small traders and artisans who had not yet availed the scheme so far could enroll into it by calling toll free number 1902 or approaching volunteers and village and ward secretariat staff.