Telangana Annual Credit Plan pegged at 1,14,353 crore

Telangana Annual Credit Plan pegged at 1,14,353 crore
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Telangana State’s annual Credit Plan for 2017-18 financial year has been finalised at Rs 1,14,353 crore at the SLBC ( State Level Bankers Committee) meeting chaired by State Finance Minister E Rajendar here on Friday. 

Hyderabad: Telangana State’s annual Credit Plan for 2017-18 financial year has been finalised at Rs 1,14,353 crore at the SLBC ( State Level Bankers Committee) meeting chaired by State Finance Minister E Rajendar here on Friday.

Out of this, Rs 39,752 crore has been earmarked for crop loans for this year. The total funds allocated for agriculture including allied activities, infrastructure and ancillary activities goes to Rs 54,198 crore from the credit plan.

Addressing the meeting, the Minister asked the bankers to provide loans intime to thefarming community in the ensuing kharif season. The demand for agricultural loans is going up following the increase in farming activity.

He brought to the notice of the bank officials about the delay in the disbursement of loans in the last season. He also told them the government had released money for farm loan waiver, but there are complaints that the banks were denying fresh loans to the farmers saying that they need to pay the interest amount first.

Stating that all the other State governments are following the policies of Telangana in waiving the loans taken by the distressed farmers, the Minister told the banks to also make arrangements for providing loans to sheep growers and fishermen community from this season.

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