Chief Minister Y. S. Jagan Mohan Reddy has remitted ₹526.62 crore into the bank accounts of 5.10 lakh small- and petty vendors towards interest-free loans under the third phase of Jagananna Thodu scheme on February 28. On the occasion, Mr. Reddy said the scheme was aimed at benefiting the small and petty businessmen in the unorganised sector by providing them working capital and financial assistance.
He said that so far, 14,16,091 such businessmen and women benefited through the scheme. The total disbursement to them amounted to about ₹1,449 crore. Terming these businessmen as essential service providers, the CM said the government was not only facilitating the availing of institutional credit but also relieving them of the interest burden.
He said that the scheme was being implemented twice a year and urged the beneficiaries to repay their loans on time to avoid overdues.
