YS Jagan disburses Interest free loans to 3.7 lakh beneficiaries under Jagananna Thodu

The government of Andhra Pradesh on Tuesday released Rs 370 crore at the rate of Rs 10,000 in the accounts of 3.70 lakh small traders across the state under the Jagananna Thodu scheme. To this end, Chief Minister YS Jagan Mohan Reddy disbursed amount virtually from his camp office. Speaking on the occasion, CM YS Jagan said the government have embarked on a good program that will benefit the small traders.

He said that he had seen the plight of small traders during his Padayatra and was offering interest free loans for them through Jagananna Thodu. "We are giving interest free loans of up to Rs 10,000 to small traders," YS Jagan said. CM YS Jagan recalled that last year, 5.35 lakh people got loan facility through Jagananna Thodu. In the second tranche, Rs 370 crore loan facility was provided to 3.7 lakh small traders, said CM YS Jagan.

He said, a total of 9 lakh 5 thousand small traders were given interest free loans. He said that small businesses in villages and towns would benefit. "We are helping all those who are eligible and will repay the interest to their accounts in a timely manner," he said.

It is learnt that the CM, who launched the scheme on November 25 last year, had on that day disbursed loans of Rs 10,000 at zero interest to 5.35 lakh beneficiaries across the state. Including the current 3.70 lakh beneficiaries, a total of 9.05 lakh beneficiaries have been given Rs. 905 crore.