SHG women in Andhra Pradesh carried a heavy financial burden — microfinance loans. Many times local lenders had over-lent, interest rates were exorbitant, and harassment was common. In some cases, women had even taken drastic steps under this pressure.
YS Jagan Mohan Reddy waived over ₹11,000 crore in microfinance loans through the YSR Aasara scheme — directly for 64 lakh SHG women. This was a historic welfare step that gave financial freedom to lakhs of women in one stroke.
But Jagan did not stop there. He ensured that such exploitation would not happen in the future. The Stree Nidhi Credit Cooperative was strengthened — where women can get direct, affordable, hassle-free loans. The grip of private money lenders weakened.
The emotional impact of this scheme was also profound. Women wept at gatherings — “We never thought our loan would be forgiven.” Jagan gave them not just money, but dignity.
