Andhra Pradesh FY15 credit plan released, outlay at Rs 91k-cr

Andhra Pradesh Chief Minister N Chandrababu Naidu released the state’s first credit plan here today with a total outlay of Rs 91,459 crore for the 2014-15 fiscal.

Of the total outlay, Rs 77,894 crore has been earmarked for lending to the priority sector. Out of this, Rs 56,019 crore has been earmarked for the agriculture sector, including a short-term production credit of Rs 41,978 crore.

Emphasis has been laid on investment credit with an allocation of Rs 14,041 crore under agricultural term loans, including allied activities, according to state level bankers committee president and Andhra Bank CMD C V R Rajendran.

He said that a sum of Rs 10,850 crore has been earmarked for micro and small sector to nurture entrepreneurial talent in the state.

The housing sector would get Rs 4,795 crore and Rs 1,926 crore has been earmarked for educational loans.