The district’s Annual Credit Plan (ACP) for the financial year 2013-14, envisaging a total outlay of Rs.7,143.88 crore, was launched here on Wednesday. The plan projects a growth of 11 per cent, translating into Rs.691.78 crore, over the projected plan for 2012-2013.

The ACP, launched by A. Sampath, MP, during the District Level Review Committee meeting here, projects a 14 per cent incremental target for disbursement under the agriculture sector, taking the target from Rs.2,791.69 crore in 2012-2013 to Rs.3,177.56 crore for 2013-2014. The services sector has an outlay of Rs.3,452.46 crore as against the target of Rs.3,150.64 crore in 2012-2013, while for non-farm sectors (Small and Medium Enterprises), the target is Rs.513.86 crore for 2013-2014 as against the Rs.509.77 crore that was set for 2012-2013.

At the quarter ending December 2012, financial institutions in the district disbursed Rs.4,680 crore under the three major sectors against the target of Rs.6,452 crore in 2012-2013. Under the agriculture sector, banks disbursed Rs.2,004 crore against a target of Rs.2,792 crore. The total bank deposit in the district was pegged at Rs.39,597 crore while advances stood at Rs.28,369 crore. The Credit Deposit Ratio (CDR) for the district was 72 per cent, as against the State’s CDR of 76 per cent.