Rs 4,909 Cr Annual Credit Plan for RR Dist Released

The annual credit plan of Rangareddy district for 2015-16 has been okayed with an outlay of Rs 4,909 crore on Wednesday.

District collector M Raghunandan Rao released the annual credit plan in here on Wednesday. While Rs 4,397 crore has been allotted for priority sector, Rs 511 crore for non-priority sector. There is an increase of ten percent in the plan outlay for current year over the previous year.

“Credit to the tune of Rs 4,480 crore has been disbursed in the year 2014-15 while the total plan outlay was Rs 4,558 crore. It is the responsibility of bank officials to make sure that target set in the credit plan is achieved and make credit available to all the needy sectors,” said Raghunandan Rao speaking to bankers after releasing the credit plan.

Agriculture and allied sectors have been given priority in the credit plan. A sum of Rs 730 crore has been allotted for crop loans to farmers, Rs 697 crore for agriculture allied sectors like horticulture, animal husbandry, dairy, poultry besides development of water resources and land.

Credit targets have been fixed for sprucing up and setting up godowns, market yards and farm machinery. For the first time Rs 5 crore has been allotted for developing renewable sources of energy.

With huge potential for growth and scope for investments in key sectors like agriculture, infrastructure, power, industries, among others bankers have a key role to play in the district. Without sufficient funds growth and development will be hampered. Therefore bankers should make sure that credit is available to all the sectors without fail, Raghunandan Rao said urging bankers to disburse loans liberally.

A sum of Rs 791 crore was allotted for meeting the investment and working capital needs of micro, small and medium enterprises and Rs 281 crore for self help groups in the credit plan.

A committee has been formed with representatives of banks and District Rural Development Organisation (DRDO) project director Sarveshwar Reddy to compile and communicate details about the banks operating in the district.

Source: The New Indian Express

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