Y.S. Jagan Mohan Reddy, the Chief Minister of Andhra Pradesh (A.P.,) launched the YSR Zero Interest Loan scheme at his residence in Tadepalli, Andhra Pradesh.
The launch event was organised at the residence of Y.S. Jagan Mohan Reddy with limited people in the wake of the Novel Coronavirus pandemic, following the guidelines of social distancing.
The YSR Zero Interest Loan scheme was an initiative under the regime of late Y.S. Rajasekhara Reddy, Jagan’s father and the former Chief Minister of united Andhra Pradesh, (when Telangana and Andhra Pradesh was one state.)
However, after the Telugu Desam Party (TDP) came into power, the initiative was re-launched today, the 24th of April under the governance of the Yuvajana Sramika Rythu Congress Party (YSRCP.)
The new scheme would benefit approximately 93 lakh women and 8.78 lakh DWCRA societies across the State.
The new scheme would benefit approximately 93 lakh women and 8.78 lakh Development of Women and Children in Rural Areas (DWCRA) associations in A.P.
The State Government’s YSR Zero Interest Loan scheme would also help nearly 11.50 lakh poor students of colleges by paying their full fees.
Mr. Jagan Mohan Reddy transferred a sum of Rs. 14,000 crores for the reimbursement of interest amount on loans.
The Self Help Groups (SHGs) in rural areas would receive benefits of Rs. 975 crores and SHGs in urban areas would get Rs. 425 crores. On the 20th of April, the YSRCP Government released an amount of Rs.766 crores for the implementation of the scheme.
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