Andhra Pradesh - Others   

Pat for SHGs

Special Correspondent

Raghuvansh Prasad Singh

NEW DELHI: Appreciating the role of self-help groups (SHGs) in Andhra Pradesh in changing the economic conditions of rural people, Union Rural Development Minister Raghuvansh Prasad Singh on Wednesday said that it was because of these that the interest rates on loans had come down.

Of a total of 22 lakh SHGs in the country, Andhra Pradesh alone has 5 lakh -- one fourth -- that now give loans at a low rate of interest, Mr. Singh said at a press conference here. According to him, the State Government gave a subsidy to the tune of 4 per cent on interest rates on loans taken by these SHGs through banks. "The rate of interest for SHGs is just about 8 per cent as against the going rate of 11-12 per cent,'' he pointed out.

He said the Andhra Pradesh Government had received Rs 200 crores under the National Rural Employment Guarantee scheme for 2005-06 and five additional districts were covered under the Act, taking the total number of districts to 13.

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