Andhra CM Reddy disburses Rs 431 crore under Jagananna Thodu scheme

Andhra Pradesh Chief Minister Y S Jagan Mohan Reddy on Thursday disbursed Rs 431 crore under the Jagananna Thodu scheme, which provides nearly four lakh small and marginal street vendors and artisans with interest-free bank loans of up to Rs 10,000.

Thursday's transfer of funds was the eighth such disbursal, and also includes interest subvention of Rs 14 crore, which benefited up to six lakh beneficiaries who availed loans and repaid them on time.

The state government decided to implement the 'Jagananna Thodu' scheme after coming to know the financial difficulties of petty traders, Reddy said, addressing the beneficiaries and officials virtually from his camp office.

Reddy said he witnessed their difficulties personally during his padayatra.

The chief minister said the scheme would be of help to small traders such as those who sell vegetables, fruits and other food items on push carts.

Further, artisans making the musical instrument Bobbili veena, handicrafts such as Kondapally toys and Etikoppaka toys, hand-painted Kalamkari textiles, lace items and puppets are also receiving the benefits of this scheme, he said.

According to the CM, lakhs of street vendors and artisans are regularly availing these loans and repaying them promptly, pegging the loan recovery rate at 95 per cent.