Jagananna Thodu Scheme Helping Lakhs of Petty Traders and Artisans: CM Jagan

VIJAYAWADA: Chief Minister Y.S. Jagan Mohan Reddy has said that the state’s Jagananna Thodu scheme is helping lakhs of petty traders and artisans. He released a fresh tranche of Rs 560.73 crore under the scheme, which would benefit 5,10,412 small and marginal street vendors and artisans through the facility of interest-free bank loans.

The Chief Minister said this amount, released as the first tranche for the fourth consecutive year, includes interest free bank loans totaling Rs 549.70 crore. The balance of Rs 11.03 crore is being paid towards interest subvention.

He said the amount would be directly credited into the bank accounts of the beneficiaries, which include 4,54,000 petty traders who have availed the interest-free loan for repeated terms.

Releasing the amount in virtual mode with the click of a button here on Tuesday, the CM said the number of such interest-free loan beneficiaries is higher in AP, compared to the rest of the country.

The petty traders repaying the loans promptly and taking repeat loans get an annual increment of Rs 1,000 on a loan amount of Rs 10,000 and can avail a maximum loan of Rs 13,000 under the scheme, he said.

Jagan Mohan Reddy said, “This scheme is designed to help petty traders and traditional artisans who depend on loan sharks for their daily working capital. The scheme so far benefitted 15,87,492 petty traders and artisans. This includes 13,29,011 beneficiaries who have taken loans multiple times.

The YSRC government has so far spent Rs 2,955.79 crore under the scheme, which includes Rs 74.69 crore paid towards interest, the CM said.

The CM observed that petty traders are also rendering a great service to the people and selling vegetables, fruits and food products in push carts, baskets, on motorcycles and by autorickshaws in the streets. Artisans who work on brass items and make Bobbili Veena, Kondapally and Etikoppaka toys, Kalankari and lace items and puppets have also been receiving loans under the scheme, he pointed out.

“I had seen their troubles during my padayatra. The idea to launch the scheme was born out of my desire to save them from loan sharks. Notably, 80 per cent of the beneficiaries are women; and a majority of them belong to the SC, ST, BC and minorities groups,” the CM said.

Petty traders and artisans who have not yet availed the scheme so far can enroll in it by calling toll free number 1902 or approaching volunteers and village and ward secretariat staff. He thanked the bankers, MEPMA officials and village and ward secretariats for running the scheme successfully.

Municipal administration minister A. Suresh, women and child welfare minister Ushasri Charan, chief secretary K.S. Jawahar Reddy, special chief secretaries Y. Srilakshmi, (MA&UD), Ajay Jain (village & ward secretariats) and Rajasekhar (PR & RD), SERP CEO Md Imtiaz, village and ward secretariats special secretary Mohammad Maidin, its director Lakshmi Shah and additional director Bhavana, MEPMA MD Vijayalakshmi, SLBC AP convener Navaneet Kumar, Stree Nidhi MD  Nanchariah, APCOB MD Srinath Reddy,  and representatives of various banks were present.