Kakinada: The chief minister stated that bankers had lowered the rate of interest on loans of Rs 3 lakh to seven percent and on loans of Rs 5 lakh to 9.5 percent for women’s self-help groups. He added that efforts are being made to persuade bankers to further lower the interest rates to lessen the burden on SHGs.
He said that banks have lowered interest rates since the loan recovery rate was 99.5 percent and the NPA rate had sharply fallen to 0.45 percent from 18 percent under the Telugu Desam government.
At Denduluru village, Eluru district, on Saturday, he stated this while presenting the third phase of the YSR Aasara plan, which will pay Rs 6,419 crore to 7,89,395 SHGs with 78,94,169 women members throughout the state. He announced that the funds will be joyfully put into the receivers’ accounts in 10 days, from March 25 to April 5. In accordance with a promise he made during his padayatra, he claimed that Rs 12,758 crore had already been put into SHGs’ accounts in the previous two phases and that the sum had climbed to Rs 19,177 crore in the third. He claimed that whereas the average loan amount to SHGs between 2014 and 2019 was Rs 14,000, it has now increased to Rs 30,000.
According to the Chief Minister, the YSRC with SHGs to empower women and improve their lives. According to him, SHGs are now held up as role models across the state, and people from many other states travel to Andhra Pradesh to see the SHG revolution directly.
“In the past 45 months of the YSRC administration, my government has supported women in our state by funding Self-Help Groups through various programs. This has helped women to participate in small businesses and other projects, leading to better economic and social opportunities for them.”
No other state in the country, in the opinion of Jagan Mohan Reddy, has made as much of an effort to advance the status of women. He cited other projects, including Amma Vodi, as well as the funds that have been made so far public.
He claimed that former chief minister N. Chandrababu Naidu neglected the welfare of women during the TD administration and even removed the zero percent interest program.
“He stated that Naidu was unsuccessful in fulfilling all of his promises during his tenure in the government.”
According to the Chief Minister, he updated the zero-interest program and also launched YSR Aasara and other welfare programs to support female equality.
Speaking of other programs, he said that 26,000 women had been helped and saved by the DISHA app, which 1.17 crore women had downloaded. He said that the state has given up on the idea of the new woman for the 21st century. In each house and area of the state, I want to see a “modern lady.”
My administration supports the well-being and releases My administration supports the well-being of women.
Ministers Karumuri Nageswara Rao, Kottu Satyanarayana, Taneti Vanitha, and Pinepe Viswaroop were there, as were MPs Mithun Reddy and K. Sridhar, a member of the Rajya Sabha called Pilli Subhash Chandra Bose, and MLAs.
75,379 members of 8,191 societies in Kurnool received Rs 50.44 crore invested in their accounts, while 1,73,228 members of 17,316 societies inside this DRDA, Kurnool, had Rs 90.83 crore invested into their accounts.
In Nandyal, Rs 166.96 crore under the DRDA and the MEPMA were put into the accounts of 25,936 SHGs.