YS Jagan starts disbursal of Jagananna Thodu funds, says 56,000 beneficiaries increased

Andhra Pradesh Chief Minister YS Jaganmohan Reddy on Tuesday has flagged of the disbursal not seventh tranche of Jagananna Thodu to the small scale vendors as an investment assistance at Chief Minister Camp Office in Tadepalli.

Speaking on the occasion, YS Jagan Mohan Reddy said that government has introduced the Jagananna Thodu scheme with the aim of supporting small traders and providing them with investment assistance. He said that scheme has benefitted 5,10,412 beneficiaries, with a total profit of Rs. 560.73 crore and opined that small businessmen are eligible to receive interest-free loans ranging from Rs. 10,000 to Rs. 13,000.

The Chief Minister said that the government is now extending the Jagananna Thodu scheme to another 56,000 individuals. Stating that they are releasing Rs. 11.03 crore interest, YS Jagan said that the scheme has provided a total of Rs. 2,955 crore in interest-free loans to support small businessmen.

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"The government is committed to providing financial assistance and opportunities for growth to small traders through this scheme," he said.

According to the scheme, those who have repaid their previous loans will receive the interest amount directly deposited into their bank accounts by the government. Additionally, the loan amount is being increased for those who have repaid their previous installments. For example, if someone repaid a loan of Rs. 10,000 in the first installment, their second installment will be increased to Rs. 11,000. The loan amount will continue to increase each year, providing support to small traders.