Centre Released Rs. 6,790 crore for YSR Cheyutha Scheme that Focuses on Financial Assistance to Women

By: WE STAFF | Tuesday, 29 September 2020

Andhra Pradesh Minister Peddireddy Ramachandra Reddy on Monday said that Rs. 6,790 crores have been released on September 11 for the YSR Cheyutha scheme, under which women are given Rs. 18,750 cash for handholding for their business needs.

“Amount of Rs. 4,643 crores were allotted for the scheme last year. Rs. 6,790 crores are released on September 11 for the present year. This scheme is intended for women empowerment. The government has discussed with many business entities and banks and encouraging women to become entrepreneurs,” said Andhra Pradesh Panchayat Raj and Rural Development Minister during a ministerial-level review meeting of YSR Cheyuta scheme. “Almost 21 lakh women have applied for various businesses. Eight lakh women said that they will continue their old shops. The ministers will continue reviewing the scheme and its implementations once in every two weeks,” he added. Under the scheme, Andhra Pradesh government has signed MoUs with some companies to encourage and hold business with these women.

On 12th August the chief minister of Andhra Pradesh launched YSR cheyutha scheme through video conferencing from chief minister’s camp office that is situated in Tadepalli in Amaravati. Through this scheme financial assistance will be provided to women. The budget of this scheme is Rs. 17000 crore and this year the government had earmarked Rs. 4,687 crore. The amount would be directly transferred to the bank accounts of the beneficiary of the scheme.  It is to be noted that all those women who become eligible after attaining 45 years as on August 12th of every year will receive benefits of this scheme and all those women who cross the upper age limit of 60 years will cease to receive the benefit.

The government has signed MoU with companies including Amul, Reliance, Hindustan Unilever Limited and other in order to strengthen the rural economy and to make the beneficiary of the cheyutha scheme the stakeholders in their businesses. Through this scheme the Government of Andhra Pradesh wants to promote entrepreneurship among women.