Visakhapatnam: CM YS Jagan Mohan Reddy to deposit Rs 5,060.49 cr in bank accounts of about 27L beneficiaries

Vijayawada/Visakhapatnam : Chief Minister YS Jagan Mohan Reddy will disburse financial assistance of Rs 5,060.49 crore under YSR Cheyutha scheme to 26,98,931 eligible women beneficiaries across the State from Pisinikada in Anakapalli district on Thursday.

The State government has provided a total financial assistance of Rs 75,000 to each woman beneficiary in the past four years @ Rs. 18,750 per annum. The beneficiaries belong to SC, ST, BC and Minorities in the age group of 45 to 60 years. This is intended to handhold them and provide them livelihood opportunities.

The total financial assistance provided till date by the YSRCP government under YSR Cheyutha is Rs 19,189.60 crore, including the present financial assistance of Rs 5,060.49 crore. The assistance is being extended to 26,98,931 eligible women to benefit over one crore people across the State.

The YSR Cheyutha provides complete freedom to eligible women to use the amount deposited in their bank accounts for any purpose of their choice. It is a flexible scheme that allows women liberty to use the disbursed amount for any micro and small-scale enterprise, livelihood activity or other needs.

The State government is providing technical, banking and marketing support to the interested women beneficiaries. Women can earn livelihood by setting up grocery shops, rearing of cows, buffaloes, sheep and goats and other self-employment schemes.

The entrepreneurship support is being provided by the State government by tying up with reputed multinational companies and banks.

By setting up ‘YSR CHEYUTHA MAHILA MART,’ the State government is providing quality goods to women beneficiaries at a lower price and providing training in marketing techniques to turn them into successful entrepreneurs.

The State government has so far provided loans of Rs 6,266.82 crore through Sthreenidhi and banks to facilitate livelihood opportunities to the women.