AP CM sanctions Rs. 395 cr to traders

Vijayawada: Just days ahead of the auspicious festival of Sankranti, Andhra Pradesh Chief Minister YS Jagan Mohan Reddy on Wednesday released Rs 395 crore under Jagananna Thodu towards interest-free loans to petty businessmen.

Under this, Rs 10,000 each will be given to 3.95 lakh small-time traders and artisans to make them self-sufficient. The Chief Minister also released Rs 15.17 crore towards reimbursement of interest to benefit 13.28 lakh beneficiaries who have repaid loans promptly in the past six months.

Speaking during the release programme at his Tadepalli camp office near here, he said "beneficiaries of the scheme, besides becoming part and parcel of the self-employed community are also helping the society indirectly in a great way."

Reddy said it was a matter of pride for the State that it has sanctioned Rs 2,406 crore interest-free loans to 15,31,347 beneficiaries. 8,74,745 traders and artisans have promptly repaid their loans and have become an inseparable part of the scheme. This indicates a good change in the society, he said. The Chief Minister reiterated that eligible people who could not avail the scheme for various reasons in the past could still apply through village and ward secretariats and such people would be included in the scheme at the end of social audit every six months.