National Bank for Agriculture and Rural Development (NABARD) has proposed its plan to allot Rs 98,679 Crore loans for the farmers of the new state of Andhra Pradesh in the financial year 2015-16. Compared to previous year, this is 27% more and that too the proposed budget is for 13 districts of the truncated Andhra Pradesh while NABARD had allotted less for the united AP last year.
Heaping praises on the NABARD, AP CM Chandrababu Naidu directed officials to come up with a plan for profitable agricultural methods within 15 days. He asked authorities to focus on river-linking thus to transfer Godavari waters into Krishna Delta, water supply through Drip Irrigation, increase of ground water supply.
CM Chandrababu stated that another 50 TMCs water can be stored with river-linking. Mr Naidu added that his government has made plans to increase 10% height of reservoirs in this financial year. “Among 98,679 Crores budget alloted by NABARD, Rs 50,979 Crore is for crop loans, Rs 18,570 Crore for Term agricultural loans, Rs 11,997 Crore for SMEs (Small and Medium-sized Enterprises), Rs 17,133 Crore for OPS loans,” said Chandrababu Naidu.