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States » SouthPosted at: Apr 29 2025 7:42PM


AP: Extend support to MSMEs: CM to bankers

Vijayawada, Apr 29 (UNI) Andhra Pradesh Chief Minister Mr Chandrababu Naidu here on Tuesday made it clear that the State Government is taking up projects on a massive scale with the sole aim of the overall development of the State in the coming four years, creating wealth and eliminating poverty.

Continuing to work in line with Swarnandhra-2047 vision on the one hand and on the other focus will also be laid on completing the projects by 2049 and achieving other goals, the Chief Minister told the 231st State-Level Bankers Committee (SLBC) meeting held at the State Secretariat at Amaravati near here.

Though the total credit plan for the 2024-25 financial year is set at Rs 5,40,000 crore it has been crossed and loans sanctioned to the tune of Rs 6,83,672 crore. This is 127 per cent growth in the target. The priority sector has been sanctioned Rs 4,14,824 crore and for non-priority sector Rs 2,68,848 crore.

In the farming sector, the credit plan for the previous fiscal was set at Rs 2,64,000 crore and the banks have exceeded this and extended Rs 3,07,089 crore.

Chairing the SLBC meeting, Mr Chandrababu Naidu sought the full cooperation of the bankers to reach this goal and make efforts to surpass the credit plan targets set for 2025-26.

The Chief Minister who discussed with the bankers the results achieved during the 2024-25 fiscal set the target for 2025-26 financial year. Congratulating the bankers on exceeding the 100 per cent target to be on top in South India, the Chief Minister unveiled the 'AP Annual Credit Plan' for 2025-2026 financial year. Mr Chandrababu asked the bankers to contemplate what best can be done for the progress of Dwcra women, tenant farmers, SC, ST, BC and Minorities.

Since Andhra Pradesh is an agri-based State and majority of the people depend on farming for their livelihood, the State Government stood by the farming sector, the Chief Minister said. He also stated that steps are being taken to strengthen the agriculture-allied sectors.

Micro, Small and Medium Enterprises (MSMEs) are being set up in every Assembly segment with the sole aim of reaching the target of 'one entrepreneur for every family', he said and stated that Ratan Tata Innovation Hub too is going to be established.

He told the bankers that stringent efforts are being made to implement 'zero poverty P-4' to remove economic imbalances by eliminating poverty by 2029. For wealth creation and for infrastructure development, the PPP system is being widely implemented in the State, the Chief Minister observed.

He also wanted the bankers to focus on petro-corridor and that fishermen should be sanctioned loans directly as they are suffering heavily due to the involvement of middlemen. Observing that there are huge opportunities in the maritime economy, Mr Chandrababu felt that if they are utilised properly, miracles can be achieved and that this needs bankers' support.

The bankers informed the Chief Minister that the credit plan is being implemented in line with his goal to have one entrepreneur for every family and expressed confidence that they will certainly reach the target during this fiscal. They also told the Chief Minister that women entrepreneurs are being given top priority and that huge amounts of loans are being sanctioned for self-help groups. Similarly, special focus is being laid on education and housing loans, they added.

The Minister for Finance, Mr Payyavula Kesav, asked as to why the growth rate is coming down every year in credit plan implementation.
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