Jagan to reimburse interest of Rs 46.90 crore today to benefit 4.07 lakh women

Vijayawada: Chief Minister Y.S. Jagan Mohan Reddy would reimburse the interest to an extent of Rs 46.90 crore to benefit 4.07 lakh women under the ‘Navaratnalu Pedalandiriki Illu’ programme, at his Camp Office on Thursday.

The Jagan Mohan Reddy-led state government said it has a commitment to fulfil the dream of providing home for the poor women in the state. It is giving free house sites to over 31 lakh beneficiaries in addition to providing Rs 2.7 lakh to each of them for the house construction

It is spending around one lakh on infrastructure per each house. Apart from giving a financial assistance of Rs 1.8 lakh per unit, it is also providing free sand worth Rs 15,000 and an additional benefit of Rs 40,000 by giving steel, cement, metal frames and other construction material to them at discounted prices.

The government is also helping these families to get a bank loan of Rs 35,000 at a low interest rate of three per cent.

Though banks are offering loans at 9-11 per cent interest rate, the state government is arranging the loans to the poor women at three per cent interest, and reimbursing the interest beyond three per cent for these loans.

So far, it provided Rs 4,500.19 crore in bank loans to 12.77 lakh beneficiaries.

The state government distributed 31 lakh house sites in 71,811.50 acres of land across the state and it provides a safe and secure home to lakhs of poor women.

The market value of each house site ranges from Rs 2.5 lakh to Rs 15 lakh, depending on the location. The state government is constructing 22 lakh houses across the state. The construction of 8.6 lakh houses was completed so far and the work on the remaining houses is going on at a brisk pace.

Each woman beneficiary would receive an asset worth at least Rs 5 lakh to Rs 20. The total bank loans provided so far to the beneficiaries was of Rs4,500.19 crore.