Andhra Pradesh Chief Minister YS Jagan Mohan Reddy announced the third edition of the tranche of the Jagananna Thodu scheme on Monday.
A total amount of Rs 510 crore of the interest-free loan at the rate of Rs 10,000 has been disbursed, benefitting around 5,10,462 self-employed traders, including street vendors, small shop owners, and artisans.
With the pandemic taking a harsh hit across the state for the last 2 years, restricting the mobility of these self-employed traders, CM launched the Jagananna Thodu scheme on November 25, 2020, and since then, the government has disbursed a total amount of Rs 1,416 crore of interest-free loans to around 14.16 lakh beneficiaries so far.
Speaking on the occasion, the AP CM said that the main objective of the scheme is to free the vendors from paying heavy interest to the loans.
"According to the data reported, 82 per cent of these sectors across the country have been majorly affected with vendors immediately losing their source of income and were confronted with deprivation. There is a need to bring back their livelihood support on their income activity and help them run their business smoothly" CM Jagan Mohan said.
Calling these sectors essential service providers, Reddy said, "These businesses might not turn into big revenue earners but as a matter of fact, these small businesses do serve as a great service in the state and to the Government. Millions of such small business owners are self-employed. The kind of help that the Govt is doing is very useful and a push for people to stand on their own two feet."
( With inputs from ANI )
Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor