Tirupati: Rs 17.57 cr credited to accounts of Jagananna Thodu beneficiaries

Tirupati: The seventh tranche of Rs 17.57 crore has been deposited into the accounts of 40,300 traders in Tirupati district under Jagananna Thodu scheme, which is aimed to free vendors from paying heavy interest to the loans taken from private parties and falling into debts. District Collector K Venkata Ramana Reddy, DRO Kodandarami Reddy, DRDA PD AD Jyothi, MEPMA PD Radhamma and other officials released the specimen cheque of this amount at a programme at the Collectorate in Tirupati on Tuesday.

Speaking on the occasion, the Collector said the scheme is being implemented to end the hardships of petty traders, those running small food stalls on streets and artisans of handicrafts and other small business people. The scheme is of great help to them as each beneficiary will get Rs 10,000 loan from banks and the government will pay the interest.

In Tirupati district, 17,099 beneficiaries got Rs 17.09 crore loans through banks with Rs 10,000 each and an interest of Rs 47.86 lakh of the loans of 23,201 beneficiaries was waived off for in the past and the principal amount was repaid. In all, the 7th instalment benefit and interest reimbursement amounted to Rs 17.57 crores with total beneficiaries of 40,300.

A beneficiary Vanitha, who is into flower business, said that her income was not enough to support her family as she had to pay higher amounts towards interests. “After I got Jagananna Thodu benefit, I could save at least Rs 2,500 per month. I got another Rs 15,000 through YSR Aasara scheme,” she added.