Machilipatnam (AP), Nov 6 (PTI) The Backward Classes Finance Corporation will provide modern tools to 4.25 lakh artisans at a heavily-subsidised price under the Adarana scheme-2, officials said Tuesday.

B Venugopala Rao, Chairman of the Andhra Pradesh State Backward Classes Finance Corporation, told reporters that the state government had re-introduced the Adarana scheme for the backward classes people and allocated Rs 750 crore to it.

Under the scheme, the government would give modern tools to artisans with a 90-per cent subsidy, which was 70 per cent previously, he added.

Over one lakh tools would be distributed among the artisans by Chief Minister N Chandrababu Naidu at the Vijayawada Municipal Stadium on November 12, Rao said.

More than five lakh applications were received for availing the benefits under the scheme, he said, adding that after scrutiny, 3,91,132 were short-listed.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)