VIJAYAWADA: Stage is set for the disbursement of financial aid to the small and petty vendors under Jagananna Thodu on Monday. Chief Minister YS Jagan Mohan Reddy will credit the amount to accounts of beneficiaries with the click of a button.
Under the scheme, an interest-free loan of Rs 10,000 will be provided to 5,10,462 small and petty vendors at an expenditure of Rs 526.62 crore. The amount also includes interest reimbursement of Rs 16.16 crore. The scheme was launched by Chief Minister Jagan Mohan Reddy on November 25, 2020 and this is the third consecutive year the scheme is being extended to benefit the small and petty vendors.
Till date, 14,16,091 beneficiaries have been provided Rs 1,416 crore and Rs 32.51 crore has been paid to banks as interests on the loans provided. The main objective of the scheme is to free vendors from paying heavy interest to the loans taken from private parties.
The banks will be providing loans to all the eligible members and the government shall pay the interest of the loan amount to banks, by reimbursing it to beneficiaries' accounts. Vegetable vendors, fruit vendors, small shopkeepers, pushcart vendors and traditional artisans are eligible to apply.