AP Sets A Loan Target Rs 2.51 Lakh Crores For 2020-21

AMARAVATI: The 211th State Level Bankers Committee (SLBC) was chaired by Chief Minister YS Jagan Mohan Reddy on Wednesday at his camp office in Tadepalli.
 

Speaking on this occasion, YS Jagan Mohan Reddy said that the government has set up a loan target of Rs 2,51,600 crore for the year 2020-21. This is an increase of 9.78 percent over the previous year.

It is aimed to provide a loan of Rs 1,28,660 crore which is an increase of 11.9 percent against the previous year allocations. The Micro, Small and Medium Enterprises in the state would get a loan of Rs 39,600 crores which is 10 percent more when compared to the previous year. The target has been set to spend Rs 1,900 crore for education loans, Rs 9,710 crore for housing loans and Rs 410 crore loans for social infrastructure. It has been decided to provide loans of Rs 454 crore for the renewable energy sector.

“We have set up a target to provide loans of Rs 3,400 crores for mechanization in the agricultural sector. Overall, we are hoping to extend Rs 1,87,550 crores to the priority sector, which is 10.88 percent higher than last year, while a target has been set up to provide Rs 64,050 crores to the non-priority sector. This is an increase of 6.75 percent over last year,” the chief minister said.

The highlights of the meeting:

The state government is determined to provide zero-interest loans to the farmers on time. The zero-interest loan dues pertaining to the Rabi crop season would be paid by Kharif Season while the loan dues pertaining to the Kharif season would be paid by the next Rabi season, the officials told the bankers in the meeting.  

The officials asked the bankers to submit the details pertaining to this on time.

The officials informed that the state government is moving ahead with a special plan for food processing, warehouses, grading and sorting in the villages. The officials have urged bankers to provide assistance to this extent.

The Chief Minister has announced that all the facilities are being set up in every Rythu Bharosa Kendram and also the setting up of cold storages and cold rooms in every Mandal.

The CM also said that the RBKs would link the farm produce information to a central server and assist in their marketing.

Finance Ministry officials have asked the bankers to provide adequate assistance to the irrigation projects being undertaken in the state.

The officials have also asked the bankers to pay special attention to loans of tenant farmers.