Andhra Pradesh Chief Minister, YS Jaganmohan Reddy launched the YSR Cheyutha scheme, on Wednesday. This scheme has been initiated to provide monetary support to socio-economically deprived women, in the age group of 45-60 years.
YSR Cheyutha scheme has been designed by the state government to help the women across the state to build strong and rewarding businesses, thereby ushering them into entrepreneurship. The AP Chief Minister, inaugurated the welfare programme at the CM’s camp office. The new scheme will benefit about 23 lakh women belonging to SC, ST, BC, and minority communities in the state. As soon as the scheme was launched, an amount of Rs 18,750 has been transferred directly to the bank accounts of all the beneficiaries. Reportedly, the women will be paid a total sum of Rs 75,000 in four years at the rate of Rs 18,750 per annum.
Hon’ble CM @ysjagan has launched #YSRCheyutha to empower socio-economically deprived women, by ushering them into entrepreneurship & helping them build strong, rewarding businesses. Financial assistance of Rs 18,750 has been transferred into the accounts of 23L beneficiaries. pic.twitter.com/rj4LJPwPL3
— CMO Andhra Pradesh (@AndhraPradeshCM) August 12, 2020
Touted as a unique scheme to encourage women towards entrepreneurship, the AP government claims that YSR Cheyutha will give these women the required financial independence to use the amount deposited in their unencumbered accounts for any purpose of their choice. Furthermore, the beneficiaries who invest the amount on setting up business units as suggested by the government would be provided marketing and technical support. They also become eligible for bank loans.
Apart from launching YSR Cheyutha scheme, the AP government has already signed Memorandum of Understanding (MoU) with leading consumer corporations including Amul, Imperial Tobacco Company of India Limited (ITC), Hindustan Unilever Limited (HUL), and Reliance, and Procter & Gamble Company (P&G), taking a step further towards women empowerment. Stating that the government also ensured scope for the increase in entrepreneurial opportunities for women, the I&PR commissioner said the companies would equip women with marketing and technical know-how, apart from providing them with capacity-building support to generate livelihood opportunities.