TIRUPATI: Chief Minister Y.S. Jagan Mohan Reddy took to task previous state government, specifically then CM Nara Chandrababu Naidu saying they had betrayed women’s self-help groups (SHGs) by going back on their electoral promise of 2014 to waive off all their pending loans.
Addressing a gathering after releasing the third tranche of YSR Sunna Vaddi – zero interest scheme – in Ongole on Friday, the Chief Minister pointed out that following the unkept promise, SHG women got caught in debt trap after not paying their loans trusting Naidu will keep his promise.
“The total burden of all SHGs was over ₹ 14,205 crore and their businesses joined the non-performing assets (NPA) list. Even A grade SHGs slipped to C and D due to non-payment of loans,” Jagan Mohan Reddy underlined. He said Naidu went on to discontinue Sunna Vaddi scheme for SHG women, burdening them with ₹ 3,036 crore as interest. By 2019, outstanding loans of SHGs reached ₹ 25,517 crore.
AP CM asserted that unlike during previous state government’s time when 18.36 percent of SHGs had been on NPA list, present government has brought down this percentage to 0.73 percent, even though the number of women in SHGs had increased to 1.02 crore from 80 lakh.
Asserting that it is a great turnaround for SHGs from being defaulters to vibrant entrepreneurs, Jagan Mohan Reddy maintained that the success story came about due to YSRC government launching schemes like YSR Cheyutha, Asara and Amma Vodi, besides bringing in big corporate companies like Reliance, P&G and Amul, apart from lining up banks to extend loans for setting up grocery shops, poultry, dairy and other units to usher in economic and social empowerment.
The Chief Minister pulled up opposition parties and a section of media for equating AP with crisis-ridden Sri Lanka. He retorted that development within the state is causing heartburn within the gang of four comprising Naidu, his friendly media and Pawan Kalyan. Jagan Mohan Reddy asked: “How can the state be Sri Lanka when it is implementing all its schemes without any hindrance.”
