The new 'Jagananna Thodu' under 'PM Swanidhi' is being dubbed as a clone of the Central scheme. The YCP government is now facing criticism for making false promises' to small traders like suppliers and street hawkers on interest-free loans. If the YCP had any devotion to the real well-being of the poorest sections, it should have come up with its own new programmes and genuinely introduce them. The newly introduced Jagananna Thodu system was built to take credit for the loans provided by Prime Minister Swanidhi to small traders across the world. In reality, in Kerala, Karnataka, Tamil Nadu and Telangana, these small loans of Rs. 10,000 were already being granted in a large way, while Andhra Pradesh was required to make progress throughout all these months. The Union finance minister launched the small loans scheme back in May, but now the Jagan regime is trying to make it look like its own initiative.
It was explained on the 'PM Swanidhi' website that almost 15 lakh loans were approved against 28 lakh applicants for small loans. The YSRCP regime issued paper ads, much like the 'Abhaya' app, which was a replica of the previous TDP scheme. It was investing crores of rupees of public funds to get the Chief Minister's publicity. The AP government has offered a new twist to the state's interest-free loan scheme. The government initially demanded an advance payment of 7 percent interest on these small loans. At a later date, the same interest will be deposited back into bank accounts.