Andhra Pradesh Chief Minister Jaganmohan Reddy has launched “YSR Aasara” scheme to benefit about 88 lakh women organized as Self-Help Groups in the state.
Under the scheme, the government would reimburse their outstanding bank loans as on 11 April 2019 amounting to over Rs 27,000 crore, in four phases.
On Friday, Reddy released the first tranche of Rs 6792 crore from his camp office in Tadepalli in Guntur district.
Speaking on the occasion, Chief Minister Reddy said that during his 3,648-km padayatra in the state prior to the elections, he was witness to the travails of these SHG groups operating under the aegis of the previous governments.
“I had then promised to clear their dues as on 11 April 2019 in four installments and have kept my word by releasing the first trance here today,” Reddy said, while stating YSR Aasara as his government’s another step towards empowering women socially and economically.
Rs 6,792.2 crore towards the first installment of the total dues of Rs 27,169 crores was released to the banks of 87,74,674 women belonging to 8.7 lakh SHGs. A virtual meeting with the district collectors and some of the beneficiaries was also held.
“The beneficiaries will have total freedom on how they would like to utilize the amount. There are no restrictions or compulsions. Those intending to invest the money in productive business opportunities would be supported by the state’s Society for Elimination of Rural Poverty and Mission for Elimination of Poverty in Municipal Areas,” the CM said.
“We are opening up opportunities of entrepreneurship (for these women) - from a small grocery store to a dairy or a food processing unit. We are also showing them a way to avail bank loans in their endeavor, the Chief Minister said.
The YSRCP government has signed MoUs with companies like ITC, Procter & Gamble, HUL, Amul, and Reliance, besides banks for the purpose.
Interested women are given training, provided technical transfer, assisted in marketing etc, to help them with their cottage, petty, small, and medium scale business units.
In another such women financial empowerment program, Reddy has last month launched the Cheyutha scheme. Women aged between 45-60 years from the SC, ST, BC, and minority communities are provided Rs 18,750 annually for four years and are handheld till they could establish a sustainable livelihood venture. Kapu community women are given Rs 15,000 per annum for five years.