The Hindu Business Line : AP plans Rs 1,000-cr bond issue

HYDERABAD: The State Government is in the process of floating bonds to raise about Rs 1,000 crore that will help in part funding some of the important ongoing irrigation projects in the State.

Disclosing this, the caretaker Chief Minister, Mr Chandrababu Naidu during his interaction with farmers and other stakeholders in the State, through an online session here on Monday, said that agriculture continues to be most critical sector in the State which contributes over 20 per cent of the GSDP and where 65 per cent of the population is dependent on the sector.

To help the farm community, the Chief Minister said a holistic development plan was being worked out. Progressively, the credit off-take has been hiked through State lead bankers. As against Rs 1,729 crore in 1994-95, it has gone up to Rs 4,500 crore in 1999-2000 and Rs 9,688 crore in 2003-2004.

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