Rs 3,450 Crore Credit Potential Projected For AP Fisheries

AMARAVATI: The State Focus Paper (SFP) prepared by National Bank for Agriculture and Rural Development (NABARD) projected that the fisheries sector in Andhra Pradesh would require  Rs 3,450.92 crore loans in the current financial year 2021–22.  This is 26.81 per cent more than what was projected last year. NABARD also appreciated that the state government's efforts in making various measures to enhance the livelihood of the fishermen.

District-wise break up of projected Credits required:

In the report, it said that AP Government had ad increased the subsidy on diesel for fishing boats and had provided them with financial assistance for two consecutive years in the name of the YSR  Matsykara Bharosa a guarantee scheme given to the fisherman during the hunting ban in the season. It also commended the steps taken to encourage aqua farmers, to supply quality certified inputs through Rythu Bharosa Centres, and to set up fishing harbours and fish landing centres. In this context, NABARD stated that the demand for credit in this sector has increased significantly compared to the past.

As part of the SFP, NABARD has projected a credit potential of Rs 2.31 lakh crore under priority sectors for AP for the fiscal year 2021-22  which was an increase of 9 per cent over the potential assessed for the fiscal year 2020-21.

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