CM Jagan to Deposit Rs 431.58 Crore Today Under Jagnanna Thodu

Vijayawada: Chief Minister Y.S. Jagan Mohan Reddy would deposit Rs 431.58 crore under Jagnanna Thodu, including the new interest-free loans through banks worth Rs 417.94 crore to 3,95,000 small and marginal traders and artisans on Thursday.

They would get a benefit at the rate of Rs 10,000 or more. This apart, a sum of Rs 13.64 crore would be deposited in the accounts of 5.81 lakh beneficiaries as interest subvention out of the total 16,73,576 beneficiaries.

Jagan Mohan Reddy would release the sums in online mode from the CM's camp office in Tadepalli.

Officials claimed that Andhra Pradesh was setting an example for the country in supporting small businesses. “The AP  government provides a full interest subsidy (from 7.32 per cent to 15.85 per cent) under  the Jagananna Thodu," they said.

Across India, 58,65,827 small businesses under  the PM Svanidhi have been provided with loans. In Andhra Pradesh, 16,73,576 businesses have received interest-free loans under the Jagananna Thodu.

Throughout India, small businesses under  PM Svanidhi have been provided with loans of Rs 10,220.47 crores till date, while AP, under Jagananna Thodu has provided loans of Rs 3,373.73 crore.

Interest reimbursements under  the PM Svanidhi across India totalled Rs 138.49 crore, while interest reimbursements under  Jagananna Thodu in AP totaled 88.33 crore, officials said.
 
This is for the 8th consecutive time that Jagananna Thodu is providing livelihood for street vendors and helping petty traders and artisans become self-reliant through an interest-free loan of Rs 10,000 per annum.

For those who took loans and repaid on time, an increment of Rs 1,000 is given each year in addition to the Rs 10,000 to Rs 13,000 as interest free loan.

The officials stated that, in addition to the interest reimbursement of Rs 13.64 crore being provided today, the Jagan-led YSRC government has so far reimbursed Rs 88.33 crore as interest to loans taken by 15.87 lakh beneficiaries who repaid their loans on time.

So far, a total of Rs 3,373.73  crore worth interest-free loans have been provided to petty traders, including Rs 417. 94 crore being distributed on Thursday to 16,73,576  beneficiaries.