Andhra Pradesh State Financial Corporation (APSFC) will be extending Rs 1,000 crore as financial assistance for prospective entrepreneurs this year, a top official has said.
District-wise targets were fixed in the state to extend loans. It was targeted to extend Rs 1,250 crore last year and was able to extend Rs 850 crores only due to economic recession, J Rambabu, Chairman of APSFC told reporters here.
Rambabu was in the district yesterday to attend the business development campaign. The possibility of improving economic condition in the coming five to six months would help for the industrial development in the state, he said.
"Necessary assistance would be given to innovative industries of Godavari district," he said adding prospective entrepreneurs should come up with new ideas for establishing industries and to concentrate on marekting of products.
Meanwhile, M V Brahmanand Rao, Managing Director of the Corporation said that the corporation has been organising campaigns in the state to encourage industrial development. The campaigns were held at Hyderabad and Vishakapatnam and will be soon held at Vijayawada, he said.
He further said that the corporation had initiated new schemes for the benefit of the industries in the state.