YSR promises loans to women SHGs at low interest rates

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Hyderabad, Sep 20 (UNI) Reiterating the Congress government's commitment, to realise the vision of party President Sonia Gandhi for 'empowering women', Andhra Pradesh Chief Minister Y S Rajasekhara Reddy today promised enhancement of loans from banks to women SHGs, at a very low interest rate of three per cent.

Addressing a gathering of beneficiaries of 'Intinta Indiramma' programme, the Chief Minister said ''Ms Gandhi has directed me to implement welfare schemes and developmental programmes and wipe out tears from the eyes of women.'' If a SHG took a loan of Rs one lakh from bank and promptly repaid the same, it would be provided Rs two lakh next year and Rs four lakh in the subsequent year, he assured them.

The state stood out as model in the SHG movement not only for other states but for other countries as well, he claimed and urged women to avail micro credit from banks in a big way for their economic betterment.

Banks, which had advanced Rs 1,100 crore in 2003-04 when the TDP was in power, had stepped up advances significantly to Rs 3,500 last year and had targetted to advance Rs 7,500 crore this year and Rs 10,000 crore next year, he added.

Houses and pension for all eligible persons would be provided on the basis of saturation concept by the year 2009, said the Chief Minister, who also distributed bank lingages to SHGs under the 'Indira Kranthi Patham'.

Recalling that the launching of the INDIRAMMA programme in the city was delayed due to problems in land acquisition, senior Congress leader V Hanumantha Rao, MP, urged the State Government to acquire 3,000 acres land for providing house sites to the poor at cheap rates compared to allotment of plots for industrial units.

Earlier, former Congress Legislature Party Leader P Janardhan Reddy, MLA urged the government to take up the third phase of Krishna Water Project and the prestigious Metro Rail Project soon.

He also expressed concern over increasing terrorist strikes in the 'peace loving' city and the flyover mishap and urged the government to take effective steps to maintain law and order.


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