Andhra Pradesh: Third tranche of 'Jagananna Thodu' to be disbursed today

The government of Andhra Pradesh on Monday will disburse the interest-free loans of Rs 510.46 crore to another 5,10,462 street vendors who sell fruits and vegetables under Jagananna Thodu scheme. It is known that on November 25, 2020, the government launched a special 'Jagannanna Thodu' scheme to help small traders as they have been yielding into debts due to high-interest loans.

The scheme provides loans at the rate of Rs. 10000 / - per beneficiary without any guarantee. However, the beneficiaries have to repay the loan in installments of 12 months and the government will pay the interest on the loan directly to the beneficiaries. The scheme has already disbursed loans to 5,35,112 people in the first tranche and 3,70,517 people in the second tranche. A total of 9,05,629 people have been given loans in two tranches.

Chief Minister Jagan Mohan Reddy will formally inaugurate the third tranche loan disbursement program at 11 a.m. on Monday at his camp office in Tadepalli. The government is disbursing interest-free loans to 3.56 lakh small businesses, mostly in rural areas in this tranche. It is estimated that a total of 14.16 lakh people will benefit from the scheme including the third tranche.

The scheme which is supposed to be released last week has been postponed for today amid the sudden demise of the Andhra Pradesh IT minister Mekapati Goutham Reddy on February 21.