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CM Jagan distributed interest free loans under the scheme along with Jagannath in AP at the camp office. In this context, the loans were deposited in the accounts of the beneficiaries by CM Jagan. Speaking on the occasion, he said, “We are giving interest free loans of Rs.10,000 to 5,10,462 people under the third tranche along with Jagannath.” He said the interest burden would be borne by the government and if combined, it would have benefited 14.16 lakh people. He said that small traders are providing good services for nominal profits and what they are doing is a great service to the business. “We are selling near our home and millions of small traders are self-employed,” he said.
He said that not only these but also many others are benefiting from them. He recalled seeing for himself on my hike the lives of those doing small businesses like this. He said that due to the lack of an organized sector, there are situations where even guarantees are not forthcoming or there are difficulties in incurring debt. He clarified that apart from giving them, the government was also responsible and brought the scheme forward by bearing the burden of interest.
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