Plan second highest in Telangana region after Ranga Reddy district
Credit plan allocates 90 per cent of the share for the priority sector
KARIMNAGAR: Collector and District Consultative Committee Chairman Sandeep Kumar Sultania on Wednesday released the district annual credit plan for the year 2008-09 with an outlay of Rs. 2,139 crore against Rs. 1,728 crore for the year 2007-08, which was an increase of 24 per cent.
The Karimnagar district annual credit plan is the second highest in entire Telangana region after Ranga Reddy district. Incidentally, the credit plan allocated 90 per cent of the share for the priority sector against the Reserve Bank of India’s norms of 40 per cent.
The priority sector lending is planned at Rs. 1,952 crore during the year 2008-09 which is 90 per cent of total share of credit plan against Rs. 1,555 crore for the year 2007-08 and the non-priority sector projections were only Rs 187.28 crore, which works out to 10 per cent of the total plan outlay for the year 2008-09.
The projected finance to crop loans in credit plan for the year 2008-09 is Rs 1014.60 crore. Out of which, Rs 659.49 crore for the khariff season and Rs 355.11 crore for the rabi season. The plan allocated Rs 76.74 crore for the minor irrigation sector against Rs 60.93 crore.
The plan had also allocated huge funds for the farm mechanization with 75.31 crore, animal husbandry and dairy with Rs 86.66 crore, plantation and horticulture Rs 10.59 crore, land development Rs 5.46 crore, poultry Rs 7.64 crore. In the non-farm sector, the plan had projected Rs 372.02 crore and other priority sector Rs 275.77 crore.
The achievements for the year 2007-08 include Rs 1,224.55 crore till the end of February this year. The banks had financed about 15,486 women SHGs by providing loans of Rs 141 crore. During this credit plan, the banks have decided to finance about 15,000 SHGs by giving Rs 300 crore. Speaking on the occasion, the Collector called upon the bankers to ensure that there was cent per cent achievement of the credit plan. He informed the bankers to motivate the bank branch managers and achieve the target. He termed the credit plan as ambitious and allocated top priority for the farm sector.
Lead district manager B Rama Chandra Murthy, SBH deputy general manager S Raghuram Prasad, RBI AGM K N Singh, Andhra Bank zonal manager A S Prabhakar, SBI regional manager Chakradhara Rao and others were also present.