The Annual Credit Plan (ACP) for Vellore district for 2018-2019 was released on Tuesday. The priority sector outlay under ACP is estimated at ₹10,097.96 crore, which is ₹794 crore higher than the previous year allocation.
Collector S. A. Raman released the ACP in the presence of officials of banks. ACP determines the target for loan disbursement for the priority sector for all banks in the district for the current financial year, an official said.
The ACP for 2018-2019 has been projected dovetailing the Potential Linked Credit Plan 2018-2019 of Nabard and has a growth projection of 8.53% in the Total Priority Sector, according to an official document.
Of the priority sector plan, agriculture sector constitutes 60.58% of the allocations followed by non-farm sector at 6.77% and other priority sector at 32.65%.
In the sector-wise allocation, agriculture and allied has total allocation of ₹6,117.78 crore.
Agriculture has been allocated ₹5,507.36 crore. Last year, agriculture was allotted ₹5,163.62 crore. Of ₹5,507.36 crore, ₹4,514.36 crore is for crop loan and ₹993 crore is for agricultural term loan.
Under agricultural term loan, ₹142.11 crore is for minor irrigation, ₹102.88 for land development, ₹429.29 for farm mechanisation, ₹187.13 crore for plantation and horticulture and ₹131.59 for others. The allied sector has got an allocation of ₹610.42 crore – ₹435.11 crore for dairy, ₹44.06 crore for fisheries/poultry, ₹35.40 crore for sheep/goat/piggery, ₹73.53 crore for cold storage/rural godown and ₹22.32 crore for others.
Non-farm sector
Non Farm Sector has been allocated ₹683.44 crore this year. Last year, it was allocated ₹551.16 crore. A total of ₹3,296.75 crore has been allocated for other priority sector.
ACP 2018-2019 has been projected to have an overall 8.50% incremental growth over the previous year’s allocation.
Under ACP 2018-2019, commercial banks have taken major allocation at 82.15% (₹8,295.65 crore), while cooperative sector has taken 15.25% (₹1,539.61 crore). The Regional Rural Bank has taken 1.96% allocation (₹198.36 crore).
