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16,738 crore credit outlay for EG
The lead district bank has come out with its annual credit plan of Rs 16,738 crore for the current fiscal, allocating a major chunk to the agrarian sector. The outlay sees a jump of 17.7 percent from the previous year. The National Bank for Agriculture and Rural Development (NABARD), in its potential-linked plan, had envisaged a total plan outlay of Rs 16,738 crore for the district.
Kakinada: The lead district bank has come out with its annual credit plan of Rs 16,738 crore for the current fiscal, allocating a major chunk to the agrarian sector. The outlay sees a jump of 17.7 percent from the previous year. The National Bank for Agriculture and Rural Development (NABARD), in its potential-linked plan, had envisaged a total plan outlay of Rs 16,738 crore for the district.
- Of the total plan amount, about 60 percent is earmarked for the agriculture sector
- The outlay sees a jump of 17.7 percent from the previous year
As per the plan, the banks in the district are going to extend loans to the tune of Rs 6,709 crore to the loan eligibility card holders and joint liability groups and another Rs 799 crore for farm mechanisation, minor irrigation and horticulture, Rs 1,977 crore towards allied activities such as dairy, fisheries and poultry and another Rs 320 crore for ancillary activities including food processing units and agri-clinics, taking the total allocation to the sector to Rs 9,883.27 crore.
“The credit document is prepared basing on the potential-linked plan released by the NABARD. This year’s outlay is 17.7 per cent high, as compared to the allocation of the last financial year,” says S Jagannadha Swamy, lead district manager.
