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HomeAndhra PradeshAP CM deposits Rs 395 crore into 3.95 lakh accounts

AP CM deposits Rs 395 crore into 3.95 lakh accounts

On Wednesday, the chief minister of Andhra Pradesh YS Jagan Mohan Reddy credited Rs 395 crore into the accounts of 3.95 lakh beneficiaries under the Jagananna Thodu scheme, besides reimbursing an interest amount of Rs 15.96 crore paid by small borrowers.

Hence Andhra Pradesh has offered a total of Rs 12,011 crore to 15,03,558 families under Jagananna Thodu, which promotes self-employment by way of depositing Rs 10,000 each into the accounts of small and petty traders, vendors, and artisans for carrying out their business. Jagan said the scheme is for social empowerment of small and petty traders and vendors, who sell their goods and wares on pavements through tiny shops or in push carts.

The chief minister highlighted that the ex-government had not bothered about people engaged in small and petty trades like selling coffee, tea, vegetables, fruits, and snacks or the traditional craftsmen and artisans. According to Jagan, the budget outgo of his government is most similar to that of the former government.

Later, he said the interest burden of those repaying their loans on time is also being borne by the state government. Under this scheme, Rs 48.48 crore has been reimbursed to 12.50 lakh families, including Rs 15.96 crore reimbursed on Wednesday. He said that 80% of beneficiaries under the several schemes of his government are women belonging to SC, ST, BC, and minority communities.

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