VIJAYAWADA: The 211th State Level Bankers’ Committee (SLBC) meeting held on Wednesday under the chairmanship of Chief Minister YS Jagan Mohan Reddy has decided to increase the quantum of farm loans by 11.9 per cent. The increase in overall loans is pegged at 9.78 per cent as compared to the previous year.
The target for agriculture loans for 2020-21 was fixed at Rs 1,28,660 crore, which is more than the half of the total loan outlay of Rs 2,51,600 crore, officials informed the Chief Minister.
Elaborating on the welfare schemes being implemented in the State, Jagan said that the State government is determined to disburse zero interest loans to farmers on time and asked the bankers to submit the necessary details.
“We have cleared the dues of the previous TDP government. The zero rate interest due to the farmers this year will also be paid. The government is setting up godowns, grading and storage facilities along with food processing units; this must be supported by the banks,” he added.
The Chief Minister said in August and September, YSR Cheyutha and YSR Asara schemes will be launched benefiting over one crore women. YSR Cheyutha will provide Rs 18,750 per annum each to SC, ST, BC, Minorities women aged between 45 and 60 for a period of four years, while YSR Asara would benefit 90 lakh women self-help groups (SHGs).
The State will spend Rs 11,000 crore annually on these two schemes, aimed at self-reliance, the Chief Minister said, adding that the two schemes will transform the rural economy.
The targets fixed for various sectors include Rs 39,600 crore for Micro, Small and Medium Enterprises (MSMEs), which is a 10 per cent hike over the previous year, Rs 1,900 crore for education loans, Rs 9,710 crore for housing, Rs 410 crore for social infrastructure, Rs 454 crore for renewable energy and Rs 3,400 crore for mechanisation in agriculture sector. The priority sector will be sanctioned Rs 1.88 lakh crore, a hike of 10.88 per cent as compared to the previous year.
The bankers said they have achieved 99.42 per cent of the target for 2019-20 by disbursing loans worth Rs 2,27,882 crore and in the agriculture sector, they released 99.13 per cent of loans worth Rs 1,13,997 crore as against the targeted Rs 1,15,000 crore.
“The YSRC government is according priority to farmers, women and healthcare,” Deputy Chief Minister Dharmana Krishna Das said, during the meeting. Officials, on the other hand, have sought the bankers’ support in the irrigation sector.
Chief Secretary Nilam Sawhney, other senior officials and representatives of various banks attended the meeting.