Chief Minister Y.S. Jagan Mohan Reddy has decided to waive the stamp duty payable on loan documentation under “Jagananna Thodu” scheme in response to a representation by the beneficiaries, who said they have to spend around ₹324 per person towards documents required by the loan process. Moreover, it delays loan disbursement.
Keeping this in view, Mr. Jagan directed the Revenue Department to issue orders for waiver of stamp duty. This helps around 10 lakh street vendors and traditional artisans. The total financial implication to government would be around ₹32 crore per annum, according to an official release.
