metro india news  I amaravati

Andhra Pradesh Chief Minister N. Chandrababu Naidu on Tuesday unveiled an ambitious Rs.6.6 lakh crore Annual Credit Plan for the financial year 2025–26, marking a 22% increase over the previous year. The announcement was made during the 231st State-Level Bankers’ Committee (SLBC) meeting, held at the state secretariat, with top banking officials in attendance.

The Chief Minister emphasized that the enhanced credit plan aligns with the state's long-term developmental blueprint—“Swarnandhra Vision 2047”—and the government's focused efforts to complete key projects by 2029. He urged the banking community to extend full support to these goals, stressing the importance of surpassing the targets laid out in the new credit plan.

The credit plan for FY 2025–26 is pegged at Rs.6.6 lakh crore, significantly up from Rs.5.4 lakh crore in FY 2024–25. In the previous year, the state had exceeded its credit target, disbursing Rs.6,83,672 crore, achieving 127% of the goal. This included Rs.4,14,824 crore for the priority sector and Rs.2,68,848 crore for the non-priority sector.

The Chief Minister formally released the AP Annual Credit Plan 2025–26 during the meeting and congratulated bankers for their exceptional performance, especially in surpassing targets and making Andhra Pradesh a leader in credit deployment among southern states.

Agriculture continues to be a critical sector, with a target of Rs.3.06 lakh crore under the new plan. In 2024–25, banks had already surpassed the Rs.2.64 lakh crore target for agriculture, disbursing Rs.3,07,089 crore—a 116% achievement. This included Rs.1,69,797 crore during the kharif season and Rs.1,37,291 crore during rabi.

MSMEs also received a major boost. Against a target of Rs.87,000 crore in 2024–25, banks disbursed Rs.95,620 crore, including, 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 allied services. For 2025–26, the MSME sector has been allocated a target of Rs.1.28 lakh crore.

CM Naidu reiterated his government’s mission of fostering “One Entrepreneur per Household” across all constituencies. He highlighted plans to set up MSME units and Ratan Tata Innovation Hubs in every constituency and noted that banking support would be crucial to realize this vision.

He specifically called on bankers to focus on lending to women entrepreneurs, tenant farmers, and people from SC, ST, BC, and minority communities. “We must think about what more can be done to uplift marginalized communities through financial inclusion,” he said.

Highlighting balanced regional development as a core strategy, the Chief Minister outlined upcoming projects across the state, as Visakhapatnam is emerging as a major economic hub with rapid industrial growth, while Amaravati is being positioned as a gateway for future investments and opportunities, and Rayalaseema is being developed as a horticulture hub and an electronics manufacturing center.

He also urged banks to focus on financing the Petro Corridor and supporting fisherfolk directly, bypassing intermediaries. He stressed the importance of harnessing the state’s blue economy potential and called on banks to invest in marine-based industries. CM Naidu noted that holding regular SLBC meetings has been a priority throughout his tenure as Chief Minister. “The SLBC is not just a financial forum. It is a platform to drive development, improve living standards, and align banking support with the state’s goals,” he said.

During the meeting, Finance Minister Pyyavula Keshav questioned why the year-on-year growth rate in credit achievement was gradually declining. While growth was 133% in 2021–22, 163% in 2022–23, and 138% in 2023–24, it dropped to 127% in 2024–25. He sought explanations from the banks and urged them to revive the pace. The Chief Minister concluded by calling on the banking sector to act as a catalyst in the state's development journey and help transform Andhra Pradesh into a model state by 2029.