VIJAYAWADA: Chief Minister YS Jagan Mohan Reddy on Tuesday distributed Rs 560.73 crore to 5,10,412 small and marginal street vendors and artisans under Jagananna Thodu. Of the total sum, released as the first tranche for the fourth consecutive year, Rs 549.70 crore was disbursed as interest-free bank loans, while Rs 11.03 crore was paid towards interest subvention. As many as 4,54,000 petty traders have availed of loans for the second or third year.
After releasing the amount from his Camp Office, Jagan said Andhra Pradesh is the only State which has been implementing the scheme to help lakhs of petty traders and artisans. The number of beneficiaries in the State is higher than in the rest of the country, he remarked.
“Petty traders, who have been clearing their debts promptly and taking repeat loans, can get an annual increment of Rs 1,000 on the loan amount of Rs 10,000 and avail a maximum loan of Rs 13,000 under the scheme,” the Chief Minister explained. The objective of the scheme is to help petty traders and traditional artisans who depend on loan sharks for daily working capital, he said. The scheme has so far benefitted 15,87,492 petty traders and artisans, including 13,29,011 beneficiaries who have taken loans more than once.
So far, the government has spent Rs 2,955.79 crore for the scheme, including Rs 74.69 crore towards interest payments. Artisans who work with brass and make Bobbili Veena, Kondapalli and Etikoppaka toys, Kalankari and lace articles and puppets have also been receiving loans under the scheme, Jagan said.
“During my padayatra, I saw the troubles petty vendors and artisans were facing. Hence, Jagananna Thodu was launched to save them from loan sharks. The interesting part of the scheme is that 80 per cent of the beneficiaries are women and the majority of them belong to SC, ST, and BC communities and Minorities,” he added.
Lauding bankers, Mission For Elimination Of Poverty In Municipal Areas (MEPMA) officials, and village and ward secretariats for running the scheme successfully, the Chief Minister said petty traders and artisans who have not yet availed the benefit can enrol by calling toll free number 1902 or approaching volunteers, village and ward secretariat staff.