AP govt. defers distribution of the third tranche of Jagananna Thodu

The Andhra Pradesh state government has postponed the implementation of the 'Jagananna Thodu' scheme for the welfare of small traders in Andhra Pradesh. With the sudden death of AP Industries, Commerce, and IT Minister Mekapati Gautam Reddy on Monday, the distribution of the third installment of the scheme, which is supposed to be launched today has been postponed to February 28.

Tumma Vijay Kumar Reddy, ex-officio secretary and commissioner of state information and civil relations. Kumar Reddy said that from February 28 beneficiaries will be credited with interest money in their bank accounts. He said the state government had declared two days of mourning over the death of Goutham Reddy.

It is a known fact that the government offers interest-free loans at the rate of Rs 10,000 per annum. The interest of Rs.10,000 per annum is paid directly by the state government to the beneficiaries. Poor small traders, cart traders, artisans, and traditional artisans will benefit from this scheme.

CM YS Jagan has come up with a scheme to make the small traders free from the clutches of moneylenders. The government has also provided the facility to avail the loan if the beneficiaries repay the earlier one.