Andhra Pradesh: CM Jagan Releases Third Phase Funds For 'Jagananna Thodu' Scheme

Under this scheme an interest-free loan of Rs 10,000 is provided to the beneficiars.

Andhra Pradesh CM YS Jagan (Image:ABP Desam)

Hyderabad: AP CM YS Jagan Mohan Reddy has released third tranche funds of the 'Jagananna Thodu' scheme on Monday at CM's camp office in Thadepalli in Andhra Pradesh. It is learned that 'Jagannanna Thodu' has introduced the scheme to support small traders like those who sell fruits and vegetables on the roadsides or carts. The government has released Rs 510.46 crore to 5,10,462 small traders. The loans of Rs 10,000 given to them are being distributed without levying any interest.

On November 25, 2020, the government launched the 'Jagannanna Thodu' scheme to support small traders. The scheme has already disbursed loans to 5,35,112 people in the first tranche, 3,70,517 in the second tranche and a total of 9,05,629 in two tranches combined. Under this scheme an interest-free loan of Rs 10,000 is provided to the beneficiars.

Speaking on this occasion, the Chief Minister stated that the initiative aims to help small and petty vendors and artisans from the unorganised sector by giving working capital and financial assistance to help them grow their business.

The Chief Minister described small-scale vendors as "essential service providers," saying that the government is relieving them of high interest payments by facilitating bank loans, and that upon timely repayment, all interest will be reimbursed directly to the beneficiaries' accounts, and they will be eligible to take the next loan.

"If you are eligible for the Jagananna Thodu scheme but have not received a loan, you should contact the village secretariats"said CM Jagan. Beneficiaries can call 08912890525 if they have any queries regarding the scheme. He explained that we are providing loans to the beneficiaries without any corruption and irregularities. 

(With inputs from ABP Desam — It is a Telugu platform of ABP News. For more news, commentary and latest happenings from two Telugu states, follow https://telugu.abplive.com/)