With a view to saving women from the shackles of microfinance institutions (MFIs), the Andhra Pradesh Government will set up a Financial Institution for Women with a corpus of Rs 1,000 crore in this financial year.
Addressing a gathering after unfurling the national flag on the occasion of 65th Independence Day at Parade Grounds here on Monday, the Chief Minister, Mr N. Kiran Kumar Reddy, said this would help women improve their lot.
Refraining from making comments on crop holiday being observed in coastal Andhra by farmers, the Chief Minister admitted to the fact that agriculture had become not profitable for farmers. Listing out several measures initiated by the Government to strengthen agriculture, he said the State cleared input subsidy arrears to the tune of Rs 1,800 crore for those who lost crop due to floods and droughts in the last three years.
He said the State Industrial Promotion Board had cleared proposals to set up 26 industrial units with a total outlay of Rs 51,000 crore.
Using information technology tools, the Government would soon launch a service to provide revenue and other statutory certificates in just 10-15 minutes.
He said the Rs 12,500-crore metro rail project covering a stretch of 71 kilometres was well on course. Of the 158-km Outer Ring Road in the State capital, the Government could complete 86 kilometres. “We are spending Rs 6,800-crore on this project,” he said.