Andhra Pradesh Gov’t launches YSR Cheyutha Scheme to benefit rural economy

Andhra Pradesh Chief Minister YS Jagan Mohan Reddy on August 12 launched ‘YSR CheyuthaScheme 2020’. The newly launched scheme aims at making women self-reliant by promoting entrepreneurship in them.

As per the officials of Andhra Pradesh state government, the initiative is intended to guide the rural economy of the state amid the setbacks due to ongoing COVID-19 pandemic. 

Andhra Pradesh state government has already allocated Rs. 4,500 crore for the scheme, in addition, the state government also plans on launching YSR Asara Scheme.

As per the government official of the Andhra Pradesh government, the main objective of the YSR Cheyutha Scheme is to help women in contributing to the economic progress of the state.

They also informed that the state government will provide technical and marketing assistance to those who will be interested in investing the amount in the business. 

YSR Cheyutha Scheme: Key Highlights

• YSR Cheyutha Scheme will directly benefit around 23 lakh women who belong to SC, ST, BC, and minority communities and are in the age group of 45-60 years. They will get incentives of Rs. 18,750 per annum.

• Each of the eligible beneficiaries of the YSR Cheyutha Scheme will be paid Rs. 75,000 by the government in four years.

• The beneficiaries will also be extended loans that will be worth three or four times the value of the amount received under YSR Cheyutha with the help of banks in order to establish the business units.

• With the provided help by the Andhra Pradesh state government, the scheme will help in developing the idea of self-reliance among women from the minority.

Under YSR Asara Scheme, the Andhra Pradesh government aims at providing relief to about 90 lakh women who belong to 9.33 lakh DWCRA groups by waiving their outstanding loans which amount to Rs. 27,168 crores.

As part of the scheme, the government will also disburse the first tranche of Rs. 6,792 crores when the scheme will be launched on September 11.

The state government has also entered into Memorandum of Understanding (MoUs) with Amul, Proctor, and Gamble, ITC and HUL in order to strengthen rural economy armed with YSR Asara and YSR Cheutha.