Andhra Pradesh Chief Minister YS Jagan Mohan Reddy, through a virtual ceremony held at his camp office in Tadepalli, disbursed funds for the fourth consecutive year under the 'Jagananna Todu' scheme on Tuesday, July 18. During the event, Jagan released a total of Rs 560.73 crore, which included interest-free loans provided to 5.10 lakh small and marginal traders and artisans.
The 'Jagananna Todu' scheme was initiated in 2020 with the objective of supporting small traders and offering investment assistance to eligible beneficiaries. Under this scheme, individuals can receive loans ranging from Rs 10,000 to Rs 13,000. This year, an additional 56,000 beneficiaries have been included, bringing the total number of beneficiaries to 15.87 lakh over the past four years. The cumulative amount of interest-free loans distributed through the scheme has now reached Rs 2,955 crore.
“56,000 more beneficiaries have been included in the program this year. The cumulative sum of interest-free loans provided to the 15.87lakh beneficiaries in the last four years through the scheme sumps up to Rs 2,955 crores. It marks a significant milestone to empower small traders,” the Chief Minister said.
Chief Minister Jagan Mohan Reddy commended the volunteers and stakeholders involved in the efficient distribution of funds to the beneficiaries. He emphasized that the scheme is easily accessible to all eligible individuals, with the village secretariat system, volunteers, and helpline number 1902 available to provide guidance and assistance.
The 'Jagananna Todu' scheme aims to provide assistance of Rs 10,000 to street vendors, artisans, and others to support their small businesses. Beneficiaries can obtain a loan of up to Rs 10,000 per year and repay it to the bank. The government reimburses the beneficiary for the interest paid and increases their loan eligibility by an additional Rs 1,000 each year.
When the scheme was initially launched in November 2020, the Bharatiya Janata Party alleged that the Chief Minister renamed the Union Government Scheme, PMSvanidhi Scheme, after himself as 'Jagananna Todu'. However, the state government has clarified that it bears the full interest on the loans provided through the scheme.