Nation Politics 25 Nov 2020 Jagan to rollout sop ...

Jagan to rollout sops for small businesses, street vendors

DECCAN CHRONICLE.
Published Nov 25, 2020, 12:17 am IST
Updated Nov 25, 2020, 8:31 am IST
The objective of the scheme is to free vendors from paying heavy interest to private parties and fall into debts
Interest-free loan of Rs 10,000 would be provided to small and petty vendors under the scheme
 Interest-free loan of Rs 10,000 would be provided to small and petty vendors under the scheme

VIJAYAWADA: YSR Congress government is to launch yet another welfare scheme with Jagananna Thodu, which aims to provide financial assistance to small scale businesses, including traditional occupations and street vendors.

Chief Minister Y.S. Jagan Mohan Reddy will do it on Wednesday and it can benefit nearly 10 lakh people in 13 districts.

 

As many as 1,44,486 vegetable vendors applied for Jagananna Thodu, followed by 1,24,735 small Kirana traders, 85,330 tiffin-shop vendors, 26,024 roadside bunk traders, 26,024 small fancy shop traders, and nearly four lakh other petty traders and vendors. These 10 lakh applicants will take the Jagananna Thodu scheme on Wednesday.

Interest-free loan of Rs 10,000 would be provided to small and petty vendors under the scheme. With regard to this, the Chief Minister will release Rs 1000 crore and the amount will be directly credited into the bank accounts of the beneficiaries.

 

The objective of the scheme is to free vendors from paying heavy interest to private parties and fall into debts. The banks will be providing loans to all the eligible members and the government shall pay interest on the loan amount to banks.

The State government had also started a special web portal to coordinate with banks and to implement the scheme giving no scope for corruption. The beneficiaries will also be provided with QR-based smart ID cards and the scheme will be monitored by SERP, MEPMA officials.

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