Aimed at promoting entrepreneurship among women, Andhra Pradesh Chief Minister YS Jagan Mohan Reddy launched a new Rs 17,000 crore scheme -- "YSR Cheyuta" -- on Wednesday.
As per a press release issued by the Chief Minister's Office (CMO), the "YSR Cheyuta" scheme aims to "give freedom" to "eligible women" to use the amount deposited in their unencumbered accounts for any purpose of their choice.
"The government would provide marketing and technical assistance to women and the banks would provide loans," the statement said, adding that the state government had recently signed MoUs with industries like Proctor and Gamble, Anand Milk Union Limited (AMUL), Hindustan Unilevel Limited (HUL) and India Tobacco Limited (ITC) to strengthen the rural economy where the scheme beneficiaries could be stakeholders.
About 23 lakh women, in the age group between 45-60 years, from the scheduled tribe, scheduled caste, backward classes and minority communities would get an incentive of Rs 18,750 per annum aggregating to Rs 75,000 in four years, the CMO's release stated.
The scheme would also benefit about eight lakh widows and single women who already receive monthly social pensions.
"Annual amount received by women eligible for pension is Rs 27,000 at the rate of Rs 2,250 per month. In addition to this, they would receive Rs 18,750 per annum under YSR Cheyuta. The total amount comes to Rs 45,750 per annum," it added.
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