We are implementing welfare programs by taking loans: CM YS Jagan

Amaravati, Sept.3 (NSS): The Chief Minister of the State YS Jaganmohan Reddy today said that they were implementing various welfare programs by taking loans in order to prevent the fall of Industrial sector and ensure the purchasing capacity of the people of the State intact.

He alleged that opposition political parties were carrying out maligning campaign about the state government with ill intentions. He made these remarks after releasing ₹1124 crore incentives to the MSMEs, Textile companies and spinning mills of the state.

Speaking on the occasion the CM said that they were giving a lot of importance to the industries in his government. He said that his government had paid the arrears of the previous government and added that he had also brought a legislation to provide 75 percent of the total jobs to local people. He also said that they were making strenuous efforts to bring more industries to the state. Making it clear that the industries will be thrown on the road if they did not Give any incentives to them, he said that the encouragement being given to the MSME sector would strengthen the economic system of the state.

Speaking further he said that the MSMEs were proving jobs scores of the local people and added that a total of 12 lakh people were employed by the industries of the state . Reddy said that a total of 97423 industrialists were running the MSMEs in the state. He said that the incentives given by the state government to the industries of the state had helped them a lot of sustain their Operations during the last 27 months.

He said that although the economic slump down had fallen to -5 percent across the globe, it did not impact the state in his rule. Talking about the welfare programs of the state government , he said that they were transferring the monetary benefits of the welfare schemes directly to the bank accounts of the beneficiaries . He said that of the total amount Released by him, ₹450 crore would go directly into the accounts of the MSMEs and the remaining ₹684 crore would go into the accounts of the textile companies and spinning mills.

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