CM YS Jagan Releases Rs. 431 Cr for Jagananna Thodu

Amaravati: Chief Minister YS Jagan Mohan Reddy released Rs 431.58 crore under Jagananna Thodu benefiting 3,95,000 small and marginal street vendors and artisans with interest free bank loans of Rs. 10,000 and more each. 

The amount, released for the eighth consecutive time, includes interest subvention amounting to Rs. 13.64 crore benefitting 5.81 lakh beneficiaries who have availed loans and repaid them promptly on time. 

Releasing the amount virtually with the click of a button at the Camp Office here on Thursday, the Chief Minister said that the Government decided to implement Jagananna Thodu after he came to know of petty traders’ financial difficulties during his Padayatra.

The scheme is helpful to petty traders who are selling vegetables, fruits and food products in push carts, baskets, on motorcycles and auto rickshaws on streets, he said, adding that artisans who make Bobbili Veena, Kondapally and Etikoppaka toys, Kalankari and lace items and puppets have also been receiving loans under the scheme. 

Lakhs of street vendors and artisans have been repeatedly availing and repaying bank loans promptly, he said, adding that the loan recovery rate has also gone up to more than 95 per cent.
It is a matter of pride that 87.13 percent of the beneficiaries are women and 79.14 per cent of them are from the SC, ST, BC and minority groups, he further observed. 

Aided by YSR Asara and YSR Cheyuta, the scheme has also become a major instrument in the transformation of rural economy and empowerment of small traders and artisans, especially women members.

The results of the transformation in the rural economy are tangible in the NPA (Non-Performing Asset) value of the self-help groups coming down to less than 0.3 percent from the 18 per cent in the TDP rule, he said. 

With the scheme showing the way for the empowerment of petty traders and street vendors, it has become a role model for the entire country, the Chief Minister said, adding that while 58, 65,000 people benefitted under the PM Swanidhi scheme across the nation,  more than 16 lakh 
street vendors and artisans benefitted alone in the State.

As against the total of Rs. 10,200 crore provided as interest free loan across the nation, Andhra Pradesh alone has so far spent Rs. 3,373.73 crore towards interest free loans, he said, adding that the official machinery has made it possible with the active role of village and ward secretariat staff and volunteers.
Introduced to help the street vendors avoid approaching private financiers and obtaining loans at hefty interest rates, Government has so far reimbursed total interest of Rs. 88.33 crore benefitting 15.87 lakh street vendors. 

వరుసగా 8వ విడత జగనన్న తోడు– చిరువ్యాపారుల ఉపాధికి ఊతం.

పూర్తి వడ్డీ భారాన్ని ప్రభుత్వమే భరిస్తూ.. ఒక్కొక్కరికి రూ.10,000 అంతకు పైగా.. 3,95,000 చిరు వ్యాపారులకు రూ.417.94 కోట్ల వడ్డీలేని కొత్త రుణాలు, మొత్తం 16,73,576 మంది లబ్దిదారుల్లో ఈ విడతలో చెల్లించాల్సిన 5.81 లక్షల మంది… pic.twitter.com/BKr3daFTNK

— YSR Congress Party (@YSRCParty) January 11, 2024

Some of the beneficiaries also participated in the programme virtually and thanked the Chief Minister for helping them through the scheme.

Deputy Chief Minister B. Mutyala Naidu (PR & RD), CS Dr. K.S. Jawahar Reddy, Special CS Ajay Jain (Village & Ward Secretariats),  SERP CEO A. Md. Imtiaz, Special Secretary B.Mohammad Deewan Maidin (Village & Ward Secretariats), MEPMA MD Vijayalakshmi,   Stree Nidhi MD  KV Nanchariah, SLBC AP Convener M.Ravindra Babu, officials of various banks and senior officials were present.