Jagan To Waive Rs 27,186 cr Worth Women Loans

The Y S Jaganmohan Reddy government had decided to waive the loans availed by women members of the self-help groups (SHGs) in the State.

The total loans availed by over 9.33 lakh women in the State amount to Rs 27,186 crore.

The government wants to pay towards these loans in at least four instalments and relive the women from the debt burden.

A formal decision was taken at a review meeting of the Society for Elimination of Rural Poverty (SERP), which deals with the SHG movement in the State.

The SERP is now preparing a report on the total loans of the women in the State and the proposal to clear them by the government.

The report is likely to be submitted to Chief Minister Y S Jaganmohan Reddy in a fortnight for his decision.

The 9.33 lakh women in the State are paying Rs 1,823 crore towards interest on their loans, which would be cleared by the government.

The government is also planning to increase the budget allocation for the SHG women in the State from the present Rs 900 crore to Rs 1800 crore from the next financial year.

This would mean that every women member of the SHG would get Rs 50,000 loan for every six months.

The loan waiver for the SHG women was one of the unfulfilled promises of TDP in 2014 elections.

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