Amaravati, Aug 4 (IANS): In a move aimed at improving the economic condition of women, the Andhra Pradesh government on Monday signed a pact with three major fast-moving consumer goods(FMCG) companies -- Hindustan Unilever, ITC and Procter & Gamble (P&G) -- to provide marketing and technology support for economic empowerment of women.

Under the YSR Cheyutha scheme, around 25 lakh women belonging to SC, ST, BC and minority communities will be benefitted. They will receive Rs 75,000 in four instalments of Rs 18,750 per year.

The partnership is expected to encourage women across Andhra Pradesh to pursue more employment opportunities that provide a steady income.

Under this trajectory, the government will be releasing around Rs 4,500 crore for the first year of the scheme to be launched on August 12.

The agreement was inked in the presence of Chief Minister Y.S. Jagan Mohan Reddy, while Sanjiv Mehta, Chairman and Managing Director of Hindustan Unilever, Sanjiv Puri, Executive Director of ITC, and Madhusudan Gopalan, CEO of P&G India, witnessed it via a video conferencing link.

The Chief Minister said that apart from YSR Cheyutha, the state government will also launch another scheme under YSR Asara in September to support 90 lakh self-help groups, for which a sum of Rs 6,700 crore will be spent annually.

Thus at the rate of Rs 11,000 crore every year for both the schemes, the government is committed to spending Rs 44,000 crore in the next four years which will benefit one crore women.