N Chandrababu Naidu releases Rs.1.65-lakh cr. credit plan for 2016-17


Vijayawada: Chief Minister N. Chandrababu Naidu has released the state credit plan in bankers meeting here on Thursday. Of this, Rs. 83,003 crore has been earmarked for agriculture and allied activities. The projections for micro, small and medium enterprises are R. 17,355 crore. The export credit projections are Rs.180 crore and non-priority sector lending is Rs. 40,000 crore. The outlay for agriculture sector is increased by 27 per cent over last year’s target of Rs. 65,272 crore. It is also a 10 per cent increase over last year’s achievement of Rs. 75,448 crore.

Mr Naidu requested the bankers to complete the targets accordingly and that the government would provide all possible support to meet the targets. The government would release Rs 3,500 crore for the second term agriculture loan waiver scheme on June 22, he said, and added that the bankers should pay the amount to farmers immediately. He also requested the bankers to provide loans as per the action plan and support the state development. He expressed displeasure on the diversion of funds for non-allocated departments.

As a result, development targets are not reached as per specific plans. The bankers and the government should work in coordination to avoid problems, he added. Mr Naidu said that women of self-help groups would work as bank representatives in villages. The government is implementing various welfare schemes at the grassroot level, he said, and that the bankers’ cooperation is required for it.

The State credit plan is in excess of projections made in State focus paper of NABARD 2016-17. The outlay for agriculture sector is Rs. 78,822 crore in NABARD focus, while it is Rs 83,003 crore in State credit plan. The priority sector lending was pegged at Rs. 1,21,765 crore in NABARD paper. However, the outlay is Rs. 1,25,538 crore in the credit plan. The total priority sector lending achievement is Rs. 1.04 lakh crore as against target of Rs. 96,920 crore. Likewise, the non-priority sector lending stood at Rs. 39,928 crore as against target of Rs. 28,828 crore.