Naidu unveils annual credit plan for ₹6.6L-cr for 2025-26
Andhra Pradesh chief minister N Chandrababu Naidu on Tuesday appealed to bankers to focus on extending loan facilities to women self-help groups, tenant farmers, as well as to members of the Scheduled Castes, Scheduled Tribes, other backward classes and minorities.
At the 231st State Level Bankers' Committee (SLBC) meeting held at the secretariat, Naidu said the annual credit plan for ₹6.6 lakh crore will be implemented by bankers during the financial year 2025-26. 'The credit plan reflects a 22% increase over the previous year's target of ₹5.4 lakh crore.'
'The 2025-26 credit plan proposes to extend loans to the extent of ₹3.06 lakh crore for the agriculture sector, ₹1.28 lakh crore for micro, small and medium enterprises (MSMEs). In all, ₹4.58 lakh crore would be given for priority sectors and ₹2.02 lakh crore for non-priority sectors,' he said.
Stating that the support of bankers is essential for the growth of any sector in line with demand, Naidu explained that massive projects were underway across different sectors, which required huge financial assistance.
He highlighted the government's initiative to promote MSMEs and establish Ratan Tata Innovation Hubs in every constituency under the vision of 'One Entrepreneur per Household'. He reiterated the government's Zero Poverty initiative to eliminate poverty and reduce inequality by 2029. The Public-Private Partnership (PPP) model is being widely implemented to create wealth and infrastructure, he said.
Naidu further said that Visakhapatnam was making remarkable progress economically and industrially, while Amaravati was being positioned as a hub of future opportunities. 'At the same time, Rayalaseema region is being developed as a horticulture hub and a centre for electronics manufacturing,' he said.
He urged bankers to focus on the Visakhapatnam-Chennai Petroleum Corridor and emphasised the need to provide direct loans to fishermen, who are losing out due to middlemen. He said there are abundant opportunities in the blue economy that can be harnessed with banking support.
A statement from the SLBC said while the credit plan target for FY 2024–25 was ₹5.4 lakh crore, banks disbursed ₹6.83 lakh crore, an increase of 127%. Of this, ₹4.14 lakh crore went to the priority sector and ₹2.68 lakh crore to the non-priority sector.
For agriculture, the target was ₹2.64 lakh crore, but disbursements stood at ₹3.07 lakh crore — 116% of the target. Of this, ₹1.69 lakh crore was disbursed in the Kharif season and ₹1.37 lakh crore in the Rabi season.
The MSME sector, which is a high priority for the state, saw disbursements of ₹95,620 crore against a target of ₹87,000 crore — 110% achievement. This includes ₹49,552 crore for micro enterprises, ₹27,632 crore for small enterprises, ₹18,138 crore for medium enterprises, and ₹298 crore for other segments.
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