Mr. Y.S. Jagan Mohan Reddy, the Chief Minister of Andhra Pradesh disbursed the amount for the Jagananna Thodu Scheme.

The State Government’s Jagananna Thodu scheme provides financial assistance to small vendors and hawkers in Andhra Pradesh.  Under the scheme, eligible vendors and hawkers can apply for interest free loans starting from Rs. 10,000.  Vegetable vendors, fruit vendors, small shopkeepers, pushcart vendors, and traditional artisans are eligible to apply for the scheme.  Besides the loan, the State Government would also bear the interest money of the loan, which would be credited to the bank accounts of the beneficiaries, who have paid the loan money on time. 

The decision to launch the scheme was taken to empower small vendors and assist them financially to grow their business.  Another major objective of the scheme is to free vendors from heavy interest on the loans taken from private parties.  In addition, to ensure corruption free transactions the State Government also started a special web portal to coordinate with banks and implement the scheme. 

The funds for the interest free loans were deposited directly into the bank accounts of the beneficiaries on the 3rd of August, Wednesday.  Furthermore, approximately 3.95 lakh people have been provided new interest-free loans, for which the Yuvajana Sramika Rythu Congress Party (YSRCP) released an amount of Rs.395 crores, along with an interest reimbursement of Rs.15.96 crores in respect of past loans. 

During the disbursement of the amount, Mr. Y.S. Jagan Mohan Reddy praised small businessmen for their great services and said that the scheme was launched to reduce the hardships of small traders.

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