The National Bank for Agriculture and Rural Development (Nabard) has pegged the credit potential for Andhra Pradesh at Rs. 98,678 crore for the financial year 2015-16. Andhra Pradesh chief minister N Chandrababu Naidu after meeting the officials from Nabard has made an official announcement in this regard.
While talking to media on Thursday, he expressed his happiness over Nabard’s commitment to the state. Chandrababu also pleaded the banking sector to extend their co-operation in waiving off loans.
The CM said his government would set a target of achieving 25% growth in the agricultural sector in 2015-16. He said the high growth rate could be achieved by improving irrigation and productivity.
He said fishing industry will also be developed along with agricultural sector. Big corporate houses like Wal-mart and PepsiCo will be roped in to give importance to the agricultural products and market linkage between farmer and the companies will be created to monitor production in the state.