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AP pegs annual credit plan at ₹2.83 lakh crore

Our Bureau Hyderabad | Updated on June 14, 2021

State achieved the loan disbursement target in the last financial year despite the pandemic

Andhra Pradesh Chief Minister YS Jagan Mohan Reddy has launched the State Annual Credit Plan of 2021-22 with a total outlay of ₹2.83-lakh crore.

He launched the credit plan at the 215th State Level Bankers’ Committee (SLBC) meeting held at the his Camp Office at Amaravati on Monday.

, About 54 per cent of the credit would go to the agricultural sector. In all, the primary sector would get ₹2.13-lakh crore or 75.36 per cent of the overall credit plan, Union Bank Managing Director and Chief Executive Officer Raj Kiran Roy, said, taking part in the conference virtually.

Union Bank leads the SLBC in Andhra Pradesh.

Addressing the gathering, the Chief Minister said the State achieved the loan disbursement target in the last financial year despite the pandemic induced lockdowns. “The disbursements in the priority sector and agricultural sectors overshot the targets,” he said.

The State disbursed ₹1.96-lakh crore worth credit under the priority sector as against a target of ₹1.87-lakh crore in 2020-21. As against the target of ₹1.28-lakh crore for agricultural sector, the State disbursed ₹1.46-lakh crore, a Government statement said on Monday.

Published on June 14, 2021

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