CM Jagan lauds volunteers for their instrumental services.

*Date: July 18, 2023*
*Location: Tadepalli*

*AP govt empowers small businesses with an aide of Rs 560 cr under ‘Jagananna Todu; Loans worth Rs 2,955 cr provided to 15.87 lakh beneficiaries in last 4 years*

_CM Jagan lauds volunteers for their instrumental services_

Andhra Pradesh Chief Minister Jagan Mohan Reddy today virtually disbursed the first tranche of the funds under the highly anticipated ‘Jagannanna Todu’ scheme at the camp office.

Extending a helping hand to the small-scale businessmen of the state, CM Jagan released an impressive sum of 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.

While disbursing the funds, CM Jagan expressed his contentment with the implementation of the ‘Jagananna Todu’ scheme for the fourth consecutive year and said that it marks a significant milestone in the government’s commitment to empowering small traders.

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.

In the last four years, as many as 15, 87, 492 beneficiaries reaped the benefit of the scheme. Speaking at the event, Chief Minister Jagan proudly 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.

CM Jagan endorsed that these figures are an indicator of the state’s consistent growth.

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.

*CM Jagan lauds volunteers for their relentless services*

*CM Jagan further expressed his gratitude to the village and ward secretariat system, volunteers, SERF (Self-Employment Rehabilitation Federation), MEPMA (Mission for Elimination of Poverty in Municipal Areas), and the supportive bankers who have played instrumental roles in the successful implementation of the scheme.*

Praising the volunteers and stakeholders involved, CM Jagan said, ‘The collaboration between these entities has facilitated a seamless and efficient distribution of funds to benefit the intended recipients.’

The ‘Jagananna Todu’ scheme was conceived after Chief Minister Jagan personally witnessed the hardships faced by small traders during his extensive 3,648 km padayatra (foot march). This experience fueled his determination to create a program that would uplift and support the small business community. The scheme encompasses various types of businesses, including roadside vendors, artisans, and unskilled workers, ensuring inclusivity in its reach.

CM Jagan assured the public that the ‘Jagananna Todu’ scheme is accessible to all eligible individuals, with the village secretariat system, volunteers, and helpline number 1902 are available to provide guidance and assistance. The government remains committed to leaving no one behind and aims to foster an environment where the welfare and prosperity of all citizens are prioritized.

The launch of the fourth year of the ‘Jagananna Todu’ scheme signifies the government’s dedication to empowering small traders and bolstering economic growth at the grassroots level.