CM YS Jagan Deposits Rs 1,353 Cr for SHG Women through YSR Sunna Vaddi

Chief Minister Y.S. Jagan Mohan Reddy has allocated Rs 1,353.76 crore as interest refunds under the YSR Sunna Vaddi initiative during a ceremony in Janupalli village, Amalapuram Mandal on Friday, 12th August 2023. This move will benefit 1.05 crore women linked with 9.48 lakh self-help groups.

Addressing a substantial crowd, the Chief Minister disclosed that the YSR Sunna Vaddi scheme has been in effect since 2019. So far, a total of Rs 4,969 crore has been directly transferred to the bank accounts of qualified women recipients.

Criticizing the previous government responsible, the Chief Minister highlighted the considerable rise in the loan burden faced by these women, escalating to Rs 25,571 crore by April 2019. This was coupled with a downgrade in their credit rating from A and B grades to C and D. Consequently, 18.36% of SHG loans transformed into non-performing assets.

Since assuming power in 2019, the Chief Minister elaborated on various programs, including YSR Cheyutha, YSR Sunna Vaddi, and YSR Aasara which have contributed to reducing the issue of loans becoming NPAs for women in self-help groups. He also underscored the noteworthy loan recovery rate of 99.67%.

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Jagan Mohan Reddy asserted that Andhra Pradesh had set an example for the nation by achieving the highest loan recovery rate. Comparing the strength of women in SHGs, he highlighted that their numbers have increased from 90 lakhs during the Telugu Desam era to 1.16 crore. The government also effectively negotiated with banks to decrease the interest rate on loans for these women from the previous 12/14% to 8.5/9.5%.

The Chief Minister outlined a suite of programs tailored for women's welfare, including Amma Vodi, YSR Cheyutha, YSR EBC Nestham, YSR Kapu Nestham, YSR Aasara, YSR Sunna Vaddi, Vidya Deevena, and Vasathi Deevena, coupled with increased funding for each initiative.

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In no other state have 30 lakh land ownership documents been registered in the names of women, along with the construction of 22 lakh houses on these lands through government initiatives, as observed in Andhra Pradesh. He applauded the village/ward volunteer system for facilitating the seamless distribution of the monthly pension of Rs 2,750 to pensioners at their residences.

The Chief Minister remarked, "The administration is majorly dedicated to women's welfare. Over the past four years, we have allocated Rs 2.31 lakh crore to them through various Navaratnalu schemes. With a commitment to empowering women in the 21st century, we are launching a series of programs aimed at their upliftment."

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