AP CM YS Jagan releases funds for Jagananna Thodu scheme, encourages eligible persons to apply

Amaravati: Andhra Pradesh Chief Minister Jagan Mohan Reddy announced that the Jagananna Thodu scheme was created to assist small traders in the state. The scheme aims to provide small traders with a loan of Rs. 10,000 without any interest or guarantee to ease their investment concerns. The Chief Minister released funds for the 'Jagananna Thodu' scheme on Wednesday. During the announcement, Jagan stated that the scheme had provided loans worth Rs. 395 crores to 3.95 lakh small traders. He added that the government will reimburse the interest paid by these small traders to the banks, and deposit the amount directly into their accounts. The Chief Minister also highlighted that interest-free loans of Rs 2,406 crore have been provided to 15,31,347 people so far. The Chief Minister also announced that the government has already reimbursed the interest amount of Rs.15.17 crores for loans given under this scheme in the last six months, and this amount has been deposited in the beneficiaries accounts. He also mentioned that loans from more than 13.28 lakh people who have paid their loans on time in connection with this scheme will get their interest back. More than 63 crores interest has been repaid. The Chief Minister praised the contributions of small traders to the society and encouraged those who haven't yet applied for the scheme to do so.