AP govt releases Rs 560 cr assistance for street vendors
The amount, released towards the first tranche for the fourth consecutive year under JaganannaThodu will benefit 5.10 lakh small traders in AP
image for illustrative purpose
Vijayawada Andhra Pradesh Chief Minister YS Jagan Mohan Reddy on Tuesday released Rs560.73 crore under JaganannaThodu benefiting 5.10 lakh small and marginal street venders and artisans with interest free bank loans.
The amount, released towards the first tranche for the fourth consecutive year, includes interest free bank loans amounting to Rs549.70 crore with the balance of Rs 11.03 crore being paid towards interest subvention.
It will be directly credited into their bank accounts. The beneficiaries include 4.54 lakh petty traders who have availed repeat loans.
Releasing the amount virtually from Tadepalli Camp Office near here, he said that AP is the only State which has been implementing the scheme to help lakhs of petty traders and artisans. The number of loan beneficiaries is higher in the State than the rest of the country, he remarked.
The petty traders, who have been repaying the loans promptly and taking repeat loans, can get an annual increment of Rs1,000 on the loan amount of Rs10,000 and avail a maximum loan of Rs13,000 under the scheme, he said.
Designed to help petty traders and traditional artisans who depend on loan sharks for daily working capital, the scheme has so far benefitted 15.87 lakh petty traders and artisans including 13.29 lakh beneficiaries who have taken loans multiple times.
The government has so far spent Rs2,955.79 crore under the scheme which includes Rs74.69 crore paid towards interest.
The Chief Minister observed that the petty traders are also rendering great social service to people and helping others by selling vegetables, fruits and food products in push carts, baskets, on motorcycles and auto rickshaws on 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 said.
“I had seen their troubles during my padayatra and the idea to launch the scheme was born to save them from loan sharks. The interesting part is that 80 percent of the beneficiaries are women and again, majority of them belong to SCs, STs, BCs and minorities,” he said.
Petty traders and artisans who have not yet availed the scheme so far can enroll into it by calling toll free number 1902 or approaching volunteers and village and ward secretariat staff, he said.
He thanked the bankers, MEPMA officials and village and ward secretariats for running the scheme successfully.
