Fulfilling his election promise, Andhra Pradesh Chief Minister YS Jagan Mohan Reddy launched the YSR Cheyutha scheme, which gives financial assistance and livelihood to poor women of SC, ST, OBC and other minority communities in the age group of 45 to 60 years.
Under this scheme, at least 23 lakh women will benefit and each person will receive an amount of Rs 18,750 per annum aggregated to Rs 75,000 in four years.
The government will dedicate Rs 4,687 crore annually for the scheme.
"We have decided to provide financial incentive to women of that age group and also open up opportunities for entrepreneurship according to their convenience and the Cheyutha (hand holding) will continue for four years from our second year in office," the CM said.
He also made it clear that the beneficiaries will have full freedom on how they want to spend the annual amount of Rs 18,750 and there will be no restrictions or compulsions.
"For those who want to invest the money, the village volunteers will come to the beneficiaries with a two-page letter to take their consent and the State has a business model ready for them," the chief minister said.
Further, Jagan stated that the government has signed MoUs with ITC, Proctor & Gamble, HUL, Amul and Reliance. Besides, banks and business opportunities will be open for those women who need help in starting small or medium business units.
In future, there would be MoUs with more and more major business houses which will create more and more business opportunities and these companies will supply their products at the price they are supplying to their agents or even for less so that the women entrepreneurs will get more profit.
Amul Cooperative will help out in dairy industry and the government departments SERP (Society for Elimination of Rural Poverty), Mission for Elimination of Poverty and in Municipal Areas (MEPMA) will coordinate in the process, he added.
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