Monday, August 8, 2022

Agri-loans hiked by 11.9 % in Andhra Pradesh

The State Level Bankers Committee (SLBC) meeting held under the Chairmanship of Chief Minister YS Jagan Mohan Reddy has decided to increase the quantum of agriculture loans by 11.9 percent and the increase in overall loans was pegged at 9.78 percent as compared to the previous year.

The target for agriculture loans for 2020-21 was placed at 1, 28, 660 crores which is more than the half of the total loan outlay of Rs 2,51,600 crores at the meeting in which the Chief Minister has explained about the welfare schemes the State has been implementing.

The Chief Minister said ‘the government is determined to implement the zero interest loans to farmers on time and asked the bankers to submit the details. We have cleared the dues of the previous government. The zero rate interest due by farmers for this year will also be paid. The government is going ahead with setting up of godowns, grading and storage facilities along with food processing units which needs the bankers support.”

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In the coming two months of August and September YSR Cheyutha and YSR Asara schemes will be launched benefiting over one crore women. YSR Cheyutha provides Rs 18,750 per annum each to SC, ST, BC, Minorities women in the age group of 45 to 60 for a period of four years while YSR Asara would benefit 90 lakh women self help groups. The State spends Rs 11,000 crore annually on these two schemes aimed at providing self reliance, the Chief Minister said adding that the two schemes will bring a change in the rural economy.

The targets fixed for various sectors include, Rs 39,600 crores for MSMEs which is a ten percent hike over previous year, Rs 1,900 crore for education loans, Rs 9,710 cores for housing, Rs 410 crores for social infrastructure, Rs 454 crore for Renewable Energy, Rs 3,400 crores from mechanisation in agriculture sector. The priority sector gets Rs 1.88 lakh crores which is a hike of 10.88 per cent as compared to the previous year.

The bankers said that they have reached 99.42 percent target for 2019-20 by providing Rs 2,27,882 crores loans and in agriculture they have reached 99.13 percent target by giving 1,13,997 crores as loan against the target of Rs 1,15,000 crores.

Our government is giving priority to farmers, women and healthcare, Deputy Chief Minister Dharmana Krishna Das said while the officials have sought the bankers help for irrigation sector.

Besides the Deputy Chief Minister, Chief Secretary Nilam Sawhney, other senior officials and representatives of various banks attended the meeting. RBI Regional Director Subrato Das participated in the video conference from Hyderabad along with Union Bank of India Executive Director Dinesh Kumar Garg. SLBC Convenor and Bank of India Field General Manager V Brahmananda Reddy and NABARD CGM Sudhir Kumar were among those who participated in the meeting.

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