Business Daily from THE HINDU group of publications
Friday, Feb 01, 2008
ePaper | Mobile/PDA Version
Business Daily from THE HINDU group of publications Friday, Feb 01, 2008 ePaper | Mobile/PDA Version |
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Agri-Biz & Commodities
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Agricultural Institutions States - Andhra Pradesh AP’s credit potential pegged at Rs 42,460 cr
Nearly 62% of the investment is likely to be in agriculture and allied sectors Rs 13,000 crore allocated for the irrigation sector in the Budget Our Bureau Hyderabad, Jan. 31 The National Bank for Agriculture and Rural Development (NABARD) has pegged the credit potential for farm and non-farm sectors in Andhra Pradesh at Rs 42,460.51 crore for 2008-09. The State Focus Paper, which was released here by Mr K. Rosaiah, State Finance Minister on Thursday, has projected the potential 15.2 per cent higher than the last year’s figure of Rs 36,856.91 crore. Talking on the paper, Mr S. R. Aluru, Chief General Manager, said the potential for crop loans for 2008-09 was put at Rs 20,239 crore. The potential for other sectors are as follows — farm mechanisation (Rs 966 crore), diary (Rs 631 crore), minor irrigation (Rs 606 crore), horticulture (Rs 685 crore), non-farm sector (Rs 4,592 crore) and micro credit (Rs 5,518 crore). Reflecting on the concerns on declining productivity and incomes for farmers, he said it was time to gather land resources to utilise the natural resources optimally. “This will help increase incomes,” he said. Addressing a gathering of officials from various departments after releasing the document, Mr Rosaiah said that nearly 62 per cent of the investments would be in agriculture and allied sectors. Pointing out that the he had allocated Rs 13,000 crore for the irrigation sector in the Budget for 2007-08, he hinted at still higher allocations at Rs 20,000 crore for the sector in the next year’s Budget. More Stories on : Agricultural Institutions | Andhra Pradesh
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