Andhra Pradesh's annual credit plan pegged at Rs 3.19 lakh crore for FY23

Andhra Pradesh's Annual Credit Plan for the current financial year was pegged at Rs 3,19,480 crore of which 54 per cent will go to agricultural sector. Chief Minister YS Jagan Mohan Reddy launched the State ACP of 2022-23 at the 219th State Level Bankers' Committee (SLBC) meeting held at camp office here, an official release said on Thursday.

The target is to provide Rs 2,35,680 crore as loans to the primary sector which is 73.76 percent of State annual credit plan, it said.

The Chief Minister urged the bankers to redouble their efforts to lend more credit to support the downtrodden to withstand the pressure of the inflation.


At the meet, Jagan sought the support of bankers for Drone technology in Agriculture sector, construction of harbours and ports.

He said the state government, under DBT schemes, has been depositing the money in to the accounts of the beneficiaries with a purpose and asked the bankers not to cut the money for any other reasons.

He thanked the bankers for extending support to the state government during COVID pandemic.