VIJAYAWADA: Chief Minister Y.S. Jagan Mohan Reddy on Wednesday launched the Jagananna Thodu scheme by depositing Rs 905-crore worth interest-free loans to nine lakh small traders.
“From now on, small and petty vendors and artisans needn’t approach private parties for loans and burden their lives by paying heavy interest, as they can take loans from banks under the Jagananna Thodu scheme for their working capital needs,” said the Chief Minister, after launching the scheme.
Jagan Mohan Reddy said he had witnessed the plight of small vendors and artisans during his 3,648-km padayatra, where the vendors cater to the needs of the public irrespective of adverse weather conditions by selling vegetables, flowers in the streets.
Their absence, he said, not only puts our livelihood in jeopardy but also our economy in doldrums.
As the vendors come under the unorganised sector, the Chief Minister said the banks don’t provide loans, which force them to approach private…