YSR Cheyutha scheme launch today

Vijayawada: In a big push towards women's empowerment, Chief Minister Y S Jagan Mohan Reddy will launch YSR Cheyutha scheme on Wednesday, August 12.

Information and public relations commissioner and Ex Officio secretary Thumma Vijay Kumar Reddy said in a statement on Tuesday that the scheme would directly benefit about 23 lakh women belonging to SC, ST, BC and Minority communities in the age group of 45-60 years.

Vijay Kumar Reddy said each of the eligible beneficiaries would be directly paid a total amount of Rs 75,000 in four years at the rate of Rs 18,750 per annum. Thus, the government would spend an amount of Rs 17,000 crore on the scheme, he added.

He said that unlike other schemes, YSR Cheyutha is unique in the sense that it gives freedom to eligible women to use the amount deposited in their unencumbered accounts for any purpose of their choice.

Women who invest the amount disbursed under the scheme for setting up business units as suggested by the government would be provided with marketing and technical support apart from they becoming eligible for bank loans, he explained.

The government has already signed Memorandums of Understanding (MoUs) with multinational companies like AMUL, ITC, HUL, P&G, Reliance and banks to realise the goal of women's empowerment. The government also ensures scope for increase in entrepreneurial opportunities for women, the commissioner said adding that the companies would equip women with marketing and technical knowhow apart from capacity-building.

Vijay Kumar Reddy further said that about 8 lakh widows and single women in the age group of 45-60 years, who are already receiving monthly social pensions, would also reap additional benefit of YSR Cheyutha. Annual amount received by women eligible for pension is Rs 27,000 at the rate of Rs 2,250 per month. In addition to this, they would receive Rs 18,750 per annum under YSR Cheyutha. The total amount comes to Rs 45,750 per annum, he added.

Stating that the primary objective of YSR Cheyutha is to improve the lot of women by helping them register economic progress, Vijay Kumar Reddy said that the government would provide marketing and technical assistance to women who evince interest in investing the amount in businesses.