Hyderabad: Telangana state tops the country in terms of loan disbursements to street vendors and small traders. The government pays loans to street vendors from banks at a 7 percent rate of interest and 5 percent of which is being returned after paying for one year across the state, officials said.
A loan of Rs 676 crore has been provided in two installments in the state till date. According to the officials, there are 6,20,435 street vendors presented in the state, and 3,60,246 are provided with a loan of Rs.10,000 in the first phases. 1,58,353 vendors who have cleared the loan in the first phase, are provided with Rs.20,000 loan. The third phase of the loan has been processed and it will be released only to those who have paid the second phase installments on time.
In addition to this, the state government is constructing ‘vending zones’ to provide loans to the street vendors and to provide a suitable environment for their business, it has been decided to construct a total of 2676 sheds for the establishment of shops in which 1294 sheds have been completed so far and the remaining 1,382 sheds are under construction.
The government of Telangana is also encouraging street vendors to do digital transactions by giving incentives of Rs 100 on payment of more than 200 digital transactions per month of at least Rs 25. Thus, incentives of Rs 21.08 crore have been given across the country and Rs 4.13 crore returned to small traders in Telangana.
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