State Bank of Hyderabad (SBH), lead bank, Raichur, released District Annual Credit Plan (ACP) for 2015-16 with a projected outlay of Rs. 3,600 crore for the priority sector, an increase of Rs. 926 crore (37.43 per cent) over 2014-14.
Of the total outlay, Rs. 3,350 crore is earmarked for the priority sector and Rs. 250 crore would go into the non-priority sector.
Around 65 per cent of the total plan amount (Rs. 2,341 crore) is earmarked for agriculture and allied sector, an increase of Rs. 576 crore (32 per cent) over 2014-15.
In terms of area, two rapidly developing taluks, Raichur and Sindhanur, have shown relatively better potential for growth with a projected outlay of Rs. 1,188.66 crore and Rs. 1,000.67 crore respectively. As expected, Devadurga, one of the most backward taluks in the country, remained at the bottom of the credit plan grid with just Rs. 215.47 crore. Manvi and Lingasugur are allocated with Rs. 691.04 crore and Rs. 504.16 crore respectively. However, both Devadurga and Lingasugur taluks showed a better potential in the priority sector with an increase of 46 per cent growth over 2014-15.
Agriculture: a key sector
Deputy Commissioner S. Sasikanth Senthil said that the district had a lot of potential for outlay in agricultural sector considering the impending irrigation projects.
“The completion of ongoing and planned irrigation projects, the extension of particularly Narayanpur Right Bank Canal, would expand the irrigated area in the district to around 6 lakh acres and contribute considerably for our food security initiatives. Expansion of irrigation would naturally boost the outlay,” he said. The officer assured that the district administration would put mechanisms in place for maintaining soil health. “Raichur is an ideal place for industrial development as it is well connected by road, rail and even air. Hyderabad International Airport is just two and a half hours away from the city. These advantages attract investments and thus boost credit growth in industrial sector,” he added.
