Latest news with #ZeroPoverty–P4
New Indian Express
30-04-2025
- Business
- New Indian Express
CM Naidu urges bankers to support Swarnandhra
VIJAYAWADA: The 231st State-Level Bankers' Committee (SLBC) meeting held under the Chairmanship of Chief Minister N Chandrababu Naidu at the State Secretariat on Tuesday unveiled an annual credit plan to the tune of Rs 6.60 lakh crore for 2025-26. This amounts to an increase of 22 percent, compared to the 2024-25 fiscal target. A target of Rs 4.58 lakh crore has been fixed for the priority sector, including Rs 3.06 lakh crore for agriculture sector and Rs 1.28 lakh crore for MSME sector. Additionally, Rs 2.02 lakh crore has been earmarked for the non-priority sector. Speaking on the occasion, the Chief Minister stated that Andhra Pradesh is undertaking massive initiatives over the next four years with a focus on development, wealth creation, and poverty eradication. As part of the Swarnandhra Vision-2047, the government is prioritising projects and goals to be completed by 2029, he said and urged banks to extend full support and exceed the targets set under the 2025-26 credit plan. Speaking on the occasion, the Chief Minister stated that Andhra Pradesh is undertaking massive initiatives over the next four years, focusing on development, wealth creation, and poverty eradication. As part of the Swarnandhra Vision-2047, the government is prioritizing projects and goals to be achieved by 2029. He urged banks to extend full support and exceed the targets set under the 2025–26 credit plan. Help promote economic growth: CM to bankers After reviewing the achievements of FY 2024–25 with banking officials, the Chief Minister outlined the goals for 2025–26. He commended bankers for surpassing 100% of last year's targets, placing Andhra Pradesh at the forefront in South India. He emphasized that bankers should consider how they can contribute to the growth of DWCRA women, tenant farmers, SCs, STs, BCs, and minorities. Naidu stressed that bank support is essential for the growth of all sectors in line with rising demand. Massive projects are underway across different sectors, and financial assistance is critical. 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 also reiterated the government's Zero Poverty–P4 initiative aimed at eliminating poverty and reducing inequality by 2029. The Chief Minister noted that Visakhapatnam is making remarkable progress economically and industrially, while Amaravati is being positioned as a hub of future opportunities. He added that Rayalaseema is being developed as a horticulture hub and a centre for electronics manufacturing. For FY 2024–25, the credit plan target was Rs 5.4 lakh crore, while banks disbursed Rs 6.83 lakh crore—127% of the target. Of this, Rs 4.14 lakh crore was directed to the priority sector, and Rs 2.68 lakh crore to the non-priority sector. In the agriculture sector, the target was Rs 2.64 lakh crore, but disbursements reached Rs 3.07 lakh crore—116% of the target. Of this amount, Rs 1.69 lakh crore was disbursed during the Kharif season and Rs 1.37 lakh crore during the Rabi season. The MSME sector, a high priority for the state, saw disbursements of Rs 95,620 crore against a target of Rs 87,000 crore—110% achievement. This included Rs 49,552 crore for micro enterprises, Rs 27,632 crore for small enterprises, Rs 18,138 crore for medium enterprises, and Rs 298 crore for other segments. Finance Minister Pyyavula Keshav questioned bankers about the declining year-on-year growth rate in credit plan implementation. While the growth was 133% in 2021–22, 163% in 2022–23, and 138% in 2023–24, it dropped to 127% in 2024–25 and sought an explanation for this trend. The MSME sector, which is a high priority for the state, saw disbursements of Rs 95,620 crore against a target of Rs 87,000 crore-110% achievement. This includes Rs 49,552 crore for micro enterprises, Rs 27,632 crore for small enterprises, Rs 18,138 crore for medium enterprises, and Rs . 298 crore for other segments. Finance Minister Pyyavula Keshav questioned bankers on the declining year-on-year growth rate in credit plan implementation. While growth was 133% in 2021-22, 163% in 2022-23, and 138% in 2023-24, it dropped to 127% in 2024-25, he pointed out.
The Hindu
29-04-2025
- Business
- The Hindu
Andhra Pradesh's Annual Credit Plan for 2025-26 fixed at ₹6.6 lakh crore
Chief Minister N. Chandrababu Naidu has said Andhra Pradesh will be undertaking various initiatives in the next four years with focus on development, wealth creation, and poverty eradication. 'While aligning with the Swarnandhra Vision-2047, the government is prioritising projects and goals to be completed by 2029. Bankers' support is essential for the growth of any sector in line with demand,' Mr. Naidu said while addressing the State-Level Bankers' Committee (SLBC) meeting at the Secretariat on Tuesday. The Chief Minister urged the banks to extend support and exceed the targets set under the 2025–26 credit plan. He said the bankers should consider how they could contribute to the growth of DWCRA women, tenant farmers, SCs, STs, BCs, and minorities. 'Massive projects are under way in various sectors, and financial assistance is critical. The government intends to promote MSMEs and establish Ratan Tata Innovation Hubs in every constituency with 'One entrepreneur per household' vision,' he said. Mr. Naidu highlighted the Zero Poverty–P4 initiative to eliminate poverty and reduce inequality by 2029. The model was being widely implemented to create wealth and infrastructure, he said. 'Visakhapatnam is making remarkable progress economically and industrially, while Amaravati is being positioned as a hub of future opportunities,' he said, and added that Rayalaseema was being developed as a horticulture hub and a centre for electronics manufacturing. 'The bankers have to focus on the petro corridor. They need to provide direct loans to fishermen, who are losing due to middlemen,' he said. There were abundant opportunities in the 'blue economy' that could be harnessed with the bankers' support, he observed. Noting that the primary reason for conducting SLBC meetings frequently during his tenure was to garner financial backing from the banks for the State's development and improve the living standards, the Chief Minister recalled that the undivided Andhra Pradesh gave priority to services and industries. After bifurcation, with Andhra Pradesh becoming an agriculture-dependent State, the focus shifted. 'The State is also strengthening allied sectors of agriculture through various initiatives,' he said. The bankers assured the Chief Minister that this year's targets would be exceeded. Priority was being given to women entrepreneurs, they said, adding that they were liberally lending to the self-help groups. 'Focus is also being placed on education and housing sectors,' they said. Finance Minister P. Keshav questioned bankers on the declining year-on-year growth rate in the credit plan implementation. While growth was 133% in 2021–22, 163% in 2022–23, and 138% in 2023–24, it dropped to 127% in 2024–25, he pointed out. The total Annual Credit Plan target for FY 2025–26 was put at ₹6.6 lakh crore, a 22% increase over the previous year's ₹5.4 lakh crore. The agriculture sector target was put at ₹3.06 lakh crore. The MSMEs were allocated ₹1.28 lakh crore. The allocation for the priority sector was ₹4.58 lakh crore, while the non-priority sector got ₹2.02 lakh crore. While the credit plan target for FY 2024–25 was ₹5.4 lakh crore, banks had disbursed ₹6.83 lakh crore. 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, which was 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 was a high priority to the State, saw disbursements of ₹95,620 crore against the target of ₹87,000 crore, which was 110% of the target. This included ₹49,552 crore for micro enterprises, ₹27,632 crore for small enterprises, ₹18,138 crore for medium enterprises, and ₹298 crore for other segments.
New Indian Express
24-04-2025
- Business
- New Indian Express
Mentoring a Golden Future: The Promise of Naidu's P4 Model
The announcement of the 'Zero Poverty – P4' initiative by Andhra Pradesh Chief Minister Shri Nara Chandrababu Naidu on the occasion ofUgadi marks a significant shift in India's approach to poverty alleviation. More than a welfare scheme, this initiative reflects an ambitious and morally compelling vision to eliminate poverty in the state by 2029. Framed within the broader Swarna Andhra 2047 agenda, the P4 model—Public-Private-People Partnership—draws upon the strengths of collaborative governance, civil society participation, and entrepreneurial philanthropy to tackle entrenched socio-economic disparities. What distinguishes the P4 initiative is its institutional architecture. Unlike traditional welfare models where the state acts as the sole provider of aid, this initiative consciously places the responsibility of upliftment into the hands of society's wealthiest 10%, inviting them to mentor and support the bottom 20% of the population. These mentors, termed Margadarsies , are not merely donors but guides and companions on the journey of socio-economic transformation. The beneficiaries, described as Bangaru Kutumbams or Golden Families, are selected transparently through Gram and Ward Sabhas, reflecting the initiative's commitment to decentralised and participatory governance. This grassroots selection process is crucial in preserving trust and ensuring that support reaches the truly deserving. Naidu's model builds upon the legacy of the Public-Private Partnership (P3), which played a transformative role in infrastructure and job creation during his earlier tenure. The P4 framework extends this logic of collaboration by adding people into the mix, thereby redefining development not as a top-down delivery of benefits but as a shared societal project. By making participation voluntary and delinking it from direct government subsidies, the initiative encourages a culture of civic responsibility and moral leadership, especially among NRIs and the Telugu diaspora. This approach not only expands the financial base for development efforts but also deepens the sense of ownership and emotional investment among of the most innovative aspects of the P4 initiative is its use of digital technology to monitor real-time progress. A digital dashboard will track the transformation of Bangaru Kutumbams , allowing for transparency, accountability, and adaptive learning. This is not merely a symbolic gesture—it signals a serious commitment to data-driven governance and continuous public engagement. Moreover, Chief Minister Naidu's call for feedback and public suggestions adds another layer of participatory democracy to the initiative, making it responsive to on-ground realities. Yet, what makes this initiative particularly remarkable is its long-term vision and sustainability architecture. The establishment of the Zero Poverty – P4 Society with chapters across the state ensures that the movement does not end with a change in administration or political winds. By institutionalising mentorship and support networks, it moves beyond the episodic nature of CSR and creates pathways for consistent, long-term engagement between benefactors and beneficiaries. This society-driven approach may well be Andhra Pradesh's most powerful innovation in poverty governance—a decentralised, voluntary, and emotionally grounded movement towards shared are clear parallels here with global best practices in community-driven development, yet the Andhra model is deeply rooted in the cultural fabric of the state. The choice to launch the initiative on Ugadi was not coincidental; it symbolises a new beginning, one that resonates with the ethos of renewal, optimism, and collective responsibility. Moreover, by giving the initiative culturally resonant terms like Margadarsies and Bangaru Kutumbams , the government has effectively indigenised the discourse of mentorship and philanthropy, making it more accessible and meaningful to local communities. Of course, the success of such an ambitious initiative will depend on how well it is implemented. Questions remain about how effectively mentors will be matched with families, the criteria for mentorship impact, and the mechanisms for addressing grievances or mismatches. The voluntary nature of participation, while ethically appealing, may also limit scalability unless incentives—social, moral, or reputational—are thoughtfully embedded into the design. Nonetheless, these are challenges of implementation, not design. As a conceptual framework, P4 offers a visionary template that deserves close attention and is also crucial to recognise that this is not a replacement for state-led welfare. Naidu has been explicit in stating that the P4 model complements existing welfare schemes rather than substitutes them. This clarity is important in a policy environment often polarised between state and market-led approaches. P4 occupies a middle ground—it calls upon the state to facilitate rather than dominate, and upon the citizen to engage rather than merely receive. This democratisation of development is perhaps its most radical successful, Andhra Pradesh could well become a model not only for India but for global efforts in building inclusive and participatory pathways out of poverty. *Dr Vineeth Thomas, Head, Department of Political Science, SRM University-AP **ChekkaLikithambica, BA(H) Political Science,Department of Political Science, SRM University-AP Disclaimer : This content is part of a marketing initiative. No TNIE Group journalists were involved in the creation of this content.
