Sunday, 19 September 2021 »  Login
in
»
I am at

Jagan Justifies Taking Loans And Distributing Money

The AP CM says it is to keep industry afloat.
Hyderabad | 3rd September 2021
Andhra Pradesh Chief Minister Y S Jaganmohan Reddy today said that the government was implementing various welfare programs by taking loans so as to ensure purchasing capacity for the people of the state, in order to prevent the collapse of the industrial sector.

He alleged that the opposition parties were carrying out a smear campaign on this issue against the state government with malignant intentions, and claimed that his government had in fact paid the arrears left over by the previous government, a fact being conveniently glossed over by the opposition.

He made these remarks after releasing Rs. 1,124 crore in incentives to the MSMEs, textile companies and spinning mills of the state.

Speaking on the occasion, the CM said that the government was giving a lot of importance to industry, and was making strenuous efforts to bring more industrial units to the state.

Saying that a total of 97,423 industrialists were running MSMEs in the state, he claimed that the incentives given by the state government to them had helped them a lot of sustain their operations during the last 27 months, and that most industrial units would end up on the roads if they were not given any incentives.

Although GDPs had fallen by 5% across the globe last year, the slump did not impact the state in his rule, showing the efficacy of the incentives, he claimed.

He added that the encouragement being given to the MSME sector would also strengthen the economic system of the state. MSMEs were providing jobs to scores of locals, with a total of 12 lakh people employed by the industrial units of the state, he said.

He also pointed out that he had also brought in legislation to provide 75% of the total jobs to he local people, which was resulting in the above employment figures.

He added that the government was transferring the monies of the welfare schemes directly to the bank accounts of the beneficiaries. Of the Rs. 1,124 being released, Rs. 450 crore would go directly into the accounts of the MSMEs, and the remaining Rs. 684 crore into the accounts of the textile companies and spinning mills, he said.
filed in:  Andhra Pradesh, Y S Jaganmohan Reddy, Industry & Business, Social Welfare
COMMENTS
Be the first to comment on Jagan Justifies Taking Loans And Distributing Money! Just use the simple form below.
LEAVE A COMMENT
fullhyd.com has 700,000+ monthly visits. Tell Hyderabad what you feel about Jagan Justifies Taking Loans And Distributing Money!
[no link to your name will appear, overriding global settings]
To preserve integrity, fullhyd.com allows ratings/comments only with a valid email. Your comments will be accepted once you give your email, and will be deleted if the email is not authenticated within 24 hours.
My name:

Dissatisfied with the results? Report a problem or error, or add a listing.
ADVERTISEMENT
SHOUTBOX!
{{todo.name}}
{{todo.date}}
[
]
{{ todo.summary }}... expand »
{{ todo.text }} « collapse
First  |  Prev  |   1   2  3  {{current_page-1}}  {{current_page}}  {{current_page+1}}  {{last_page-2}}  {{last_page-1}}  {{last_page}}   |  Next  |  Last
{{todos[0].name}}

{{todos[0].text}}

ADVERTISEMENT
This page was tagged for
hyderabad September 2021 News
Andhra Pradesh news
Y S Jaganmohan Reddy updates
Follow fullhyd.com on
© Copyright 1999-2009 LRR Technologies (Hyderabad), Pvt Ltd. All rights reserved. fullhyd, fullhyderabad, Welcome To The Neighbourhood are trademarks of LRR Technologies (Hyderabad) Pvt Ltd. The textual, graphic, audio and audiovisual material in this site is protected by copyright law. You may not copy, distribute, or use this material except as necessary for your personal, non-commercial use. Any trademarks are the properties of their respective owners. More on Hyderabad, India. Jobs in Hyderabad.