Monday, August 8, 2022

AP CM to launch ‘YSR Asara’ to free lakhs of women from a vicious debt trap

For decades now, lakhs of women hailing from poor families have been forced to take mammoth loans to cope with the costs towards education, health care, elderly care, daily needs, and other emergencies. This resulted them getting into a vicious cycle of debts due to their incapability to cope with the exorbitant rates of interest. The CM observed the same during his 3,648 Kms Padayatra and therefore a promise was made.

The CM had promised that the Government of Andhra Pradesh will reimburse all the outstanding loans taken by all the women members of self-help groups belonging to the SC, ST, BC, and minority communities as on 11.4.2019 in 4 installments. Consequentially, when the sum of the outstanding loans as on the cut off date was calculated, the result was over Rs. 25,383.49 Cr.

On September 11, Rs 6345.87 crore, benefiting 7,91,257 self-help groups (SHG) will be released by Chief Minister Jagan Mohan Reddy under YSR ASARA scheme.

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Multiple studies have said and it has been observed that most women who resorted to taking loans at a very high rate of interest,did so, to cater to their basic needs of their respective, such as education, health care, elderly care, daily necessities, and other emergencies.

Considering the fact that schemes like Vidya Deevena, Vasathi Deevena, Amma Vodi, Vidya Kanuka, Nadu-Nedu are already ensuring that free education is given to students belonging to families below the poverty line, flagship schemes YSR Arogyasri, YSR Arogya Asara are ensuring that absolute free treatment is given to the needy, whereas, under YSR Pension Kanuka, as many as 61.28 lakh beneficiaries are receiving their pensions right at the doorstep every month. The women who are getting out of this vicious cycle will not be forced to go back to taking loans at high-interest rates once again. This amount can also be used for their future prospects if they have repaid their loan already, as the govt will still stick to it’s promise of reimbursing the total outstanding loan as on 11.04.2019.

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