VIJAYAWADA: Chief Minister Jagan Reddy, at the push of a button on Wednesday, will deposit Rs 395 crore into the bank accounts of 3.95 lakh ‘Jagananna Thodu’ beneficiaries.
He will also pay Rs 15.16 crore in interest repayments for Jagananna Thodu’s loans for the past six months. The program will take place at the CM Camp Office in Tadepalli.
Officials said Jagananna Thodu is a big help for small traders. The government offers Rs 10,000 to these male/female traders/vendors and craftsmen as an interest free loan. The government bears the entire interest burden for Rs 10,000 each being disbursed to 3.95 lakh small traders and traditional handicrafts through the banks.
Through this scheme, so far Rs 2,011 crore interest free loans have been granted to 15,03,558 beneficiaries. The interest repaid by the Jagan-led government to the 12.50 lakh beneficiaries, who repaid their loans on time, was Rs 48.48 crore.
The government pays interest to the banks every six months, which is deposited directly into the recipients’ bank accounts.
Recipients are eligible to re-obtain an interest-free loan once the current loan is paid off.
Those who have set up permanent or temporary shops in villages and towns in a space of about 5 feet long and 5 feet wide are eligible for Jagananna Thodu. In addition, those who earn their living by selling goods, vegetables, fruits and foodstuffs on paths and streets on handcarts, or who run roadside tiffin centers, sell goods in baskets and baskets, do business on bicycles, motorbikes and auto rickshaws are eligible for the interest-free loan.
People in professions such as hand loom, artisans such as brass workers, Bobbili Veena, Etikoppaka, Kondapalli toys, Kalankari, puppets, other prop makers, laces, potters, etc. are also eligible.
“Those who are eligible and whose names are not on the current list of beneficiaries need not worry. They can contact the village and neighborhood volunteers or go to the nearest village and neighborhood secretariat and apply,” officials said.