AP govt. to disburse the third tranche of Jagananna Thodu on February 22
AP Chief Minister YS Jagan Mohan Reddy will inaugurate the third tranche of 'Jagananna Thodu' on February 22. The authorities had identified 9,05,023 beneficiaries till February 14.
It is a known fact that the Andhra Pradesh government has launched Jagananna Thodu to protect small traders from the high-interest rates in the state. Against this backdrop, AP Chief Minister YS Jaganmohan Reddy will inaugurate the third tranche of 'Jagananna Thodu' on February 22. The authorities had identified 9,05,023 beneficiaries till February 14 of which 6,91,530 beneficiaries have availed bank loans while another 1,57,760 will receive loans in the third phase.
The beneficiaries are selected from the list of eligible candidates in the village and ward secretariats by conducting a social audit. Under the Jagananna Thodu scheme, the government is providing interest-free loans of up to Rs 10,000 per annum to each small trader in the banks.
The government pays the annual interest amount directly to the beneficiaries accounts. Poor small traders, cart traders, artisans, and traditional artisans get Rs. 10,000 interest-free loan from the government.
The Andhra Pradesh government has announced that after the beneficiaries repay the loan taken from the banks, they can again take an interest-free loan from the banks.