Credit outgo to the sector likely to be 19 per cent higher than the previous year
The district’s Annual Credit Plan for 2013-14 envisages a total credit of Rs. 5,231.09 crore, which is 19.03 per cent higher than that of the last year.
Releasing the plan at the district-level bankers’ consultative committee meeting held here on Wednesday evening, District Collector V.K. Shanmugam said that agriculture and allied sector accounted for more than 50 per cent of the total credit at Rs. 2,810.20 crore. It was Rs. 2,342.78 crore the previous year. The plan gives thrust to projects on development of hi-tech agriculture, horticulture crops, cut-flower cultivation, and biotechnology. Wasteland development, storage facilities in rural areas, agriculture marketing infrastructure, sericulture, organic fertilizer production, micro-irrigation including drip and sprinkler systems, animal husbandry, farm mechanisation and agri business too would get priority.
The plan envisages Rs. 1,460 crore credit for the non-farm sector that includes small and medium industries. The credit planned for priority sectors is Rs. 960.89 crore.
The plan was prepared primarily based on the potential linked credit plan of the National Bank for Agriculture and Rural Development , officials here said.
District Rural Development Agency Project Director S. Vidhyasagar; Mahalir Thittam Project Officer P. Renugadevi; Assistant General Manager, Nabard, G. Santhanam; Lead district manager (in-charge) Boopalan; and senior officials were present during the meeting.