AP govt to provide loans to Federations at 25 paise interest

Hyderabad, Jun 21 (UNI) Andhra Pradesh Chief Minister Y S Rajasekhara Reddy today asked the Backward Classes Welfare department to prepare a blue print for running the Federations efficiently by upgrading skill and training.

According to an official release here, Dr Reddy said as the present term loan extended by each Society and Federation was very meagre it was time to set up modern units for washermen, nayee brahmins, vadderas, tailors and viswa brahmins to earn a reasonable income and lead a respectful life instead of giving them some loans and continue traditional occupations.

Stating that the government was ready to sanction loans at 25 paise interest up to Rs 50 crore to each Federation, he said a workshop would be organised under his Chairmanship with the Federations, Artisan leaders and officials on July 21 to decide about the skill upgradation, training, subsidy and establsishment of modern units for traditional occupation.

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