CM launches annual credit plan

Hyderabad, May 22 (UNI) Andhra Pradesh Chief Minister Rajasekhara Reddy today launched the state's new annual credit plan with a projected outlay of Rs 37,000 crore.

This outlay was set against the previous year's Rs 28,899 crore.

The plan proposed to disburse Rs 13,000 crore to Small and Medium Enterprises (SME) compared to last year's Rs 19,956 crore.

Launching the annual credit plan here, Mr Reddy said the increased lending to Self Help Groups (SHGs) from Rs 2001 crore in 2005-06 to Rs 3000 crore this year would benefit three lakh additional SHGs.

Mr Reddy said like Srikakulam district, three more districts would be included in next two years, to achieve 100 per cent finacial inclusion by providing a no frills account and a General Purpose Credit Card (GCC).

He said the banks would be asked to distribute loans to farmers by the end of July without any delay.

Around five lakh tenant farmers would benefit during this year compared to 50,000 farmers last year.

The Minister said new houses at a cost of Rs 1.5 lakh would be constructed under the Rajiv Gruhakalpa scheme and lands would be supplied free of cost to the beneficiaries.

UNI AP AJ 1928