Andhra CM Jagan Mohan Reddy Disburses Rs 560 Cr To Support Small Businesses

Andhra Pradesh Chief Minister Jagan Mohan Reddy on Tuesday virtually disbursed the first tranch of the funds under the 'Jagannanna Todu' scheme at the camp office in Tadepalli. 

CM Jagan released Rs 560.73 crore, which includes Interest-free loans to 5.10 lakh small and marginal traders and artisans, worth Rs 549.70 crore and interest subvention worth Rs 11.03 crore.

CM Jagan said that with the latest disbursement, the cumulative sum of interest-free loans provided to the people in the last four years through the scheme sumps up to Rs 2,955 crores.

As per the official information, in the last four years, as many as 15,87,492 beneficiaries have been the beneficiaries of the scheme. The Chief Minister highlighted that out of 15 lakh loan beneficiaries, as many as 13.29 lakh individuals have repaid their loans multiple times, showcasing their commitment to the scheme and their dedication to improving their businesses.

This installment of loans has been extended to 5,10,412 beneficiaries across the state. In addition, those who have previously availed of loans through the scheme and have diligently repaid them on time will receive interest reimbursements totaling Rs. 11.03 crore, directly deposited into their accounts.

‘Through the 'Jagananna Todu' scheme, eligible beneficiaries can receive loans ranging from Rs 10,000 to Rs 13,000. Notably, an additional 56,000 individuals have been included in the program this year, ensuring broader access to financial support and growth opportunities,’ Chief Minister stated.

The 'Jagananna Todu' scheme encompasses various types of businesses, including roadside vendors, artisans, and unskilled workers, ensuring inclusivity in its reach.