By Our Special Correspondent
Andhra Pradesh's Annual Credit Plan for the current financial year was pegged at Rs 3, 19,480 crore of which 54 per cent will go to agricultural sector.
YS Jagan Mohan Reddy Chief Minister of Andhra Pradesh launched the State ACP of 2022-23 at the 219th State Level Bankers' Committee (SLBC) meeting held at camp office here, an official release said on Thursday.
Speaking on the occasion, the Chief Minister YS Jagan Mohan Reddy said the Covid-19 pandemic had debilitating impact on the country’s economic development. The nominal GDP of the country for 2021-22 was Rs 237 lakh crore and the growth at current prices during the last fiscal as per the provisional estimates was 19.5%. The inflation at 7.79% is the highest in the last eight years.
The Chief Minister urged the bankers to redouble their efforts to lend more credit to support the downtrodden to withstand the pressure of the inflation. At the meet, Jagan sought the support of bankers for Drone technology in Agriculture sector, construction of harbors and ports.
The Chief Minister said it was commendable that despite the constraints, the ACP target for 2021-22 was exceeded to 133.19% and the banks had achieved 167.27% more than the target in terms of agriculture term loans and the loans were doubled at 208.48% for non-primary sectors.
He said the state government, under DBT schemes, has been depositing the money in to the accounts of the beneficiaries with a purpose and asked the bankers not to cut the money for any other reasons.
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