The Potential Linked Credit Plan for 2015-16 prepared by NABARD has assessed the credit potential for the district at Rs 12,351.73 crore, a projected growth of 12.31 per cent over the current year.
Of the total plan outlay, 41 per cent is earmarked for crop and term loan in agriculture sector, 42 per cent for MSME sector and 17 per cent for other priority sectors, R Inigo Arul Selvan, District Development Manager, NABARD, said highlighting the features.
Plan projects credit potential of the long term lending in agriculture at Rs 1,643.79 crore, 13 per cent of total outlay, while Rs 5,124.35 crore for MSME and Rs 2,107.41 crore for Other Priority Sectors covering education/housing/small and retail business sector, he said.
NABARD had already prepared base plan for the period 2012-13 to 2016-17 co-terminus with the current Five year plan, he said, adding that taking in the recent changes in policies and increased thrust being given for various sectors, the projections indicated in the base plan for 2015-16 has been revised and incorporated in the present document,prepared in consultation with government departments, banks and other stakeholders.
Selvan also indicated that constructions of large number of warehouses in the state are being supported through the Rural Infrastructure Development Fund and Warehousing Infrastructure Fund operated through NABARD.
K Krishnamoorthy, Lead District Manager, requested the banks to increase the lending to MSME sector taking advantage of incentive schemes and advised them to utilize the NABARD's PLP document while preparing their branch/bank credit plan.
Handing over the first copy of the plan to Saravanan, Lead District Officer of Reserve Bank of India, District collector, Archana Patnaik appreciated NABARD for preparation and timely release of the document and asked the bankers to ensure that credit facilities were extended to every small and marginal farmer, oral lessee, share cropper and rural artisan.
The bankers should form, nurture and lend to these people through Joint Liability Group mode as this will enable "inclusive growth" aimed by the Government. For the current year the target for the district has been fixed as 2,000 Groups, she said.
