Belgaum: The district's annual credit plan of Rs. 1,977 crore for the current financial year has been released.

The plan that envisages Rs. 1,669 crore for the priority sector and Rs. 327 crore for the non-priority sector was prepared by Syndicate Bank, lead bank of the district. It was released by Suresh Angadi, MP, here on Monday.

According to the plan, the banks together mobilised a deposit of Rs. 4,904 crore and made advances to the tune of Rs. 4,294 crores in the district that consists of ten blocks and 442 bank branches during financial year 2006-07, ending December 2006.

The credit-deposit ratio of the majority of the banks was more than 87 per cent as against the Reserve Bank of India stipulation of 60 per cent. The district with a predominantly agriculture-based economy, was provided Rs. 1,124 crore for agriculture development. Of this, Rs. 100 crore was earmarked for farm mechanism, Rs. 107 crore for minor irrigation and Rs. 24 crore for horticulture development.

The present credit plan has allocated Rs. 788 crore for crop production, which is 29.98 per cent higher than last year's amount.

Krishna river belt

Recognising the potential for development of buffalo milk in the Krishna river belt and the high demand for its flavour and quality in Belgaum, Goa and Maharashtra, Rs. 27 crore has been provided to boost dairy activities in the district.

With the Centre having included the district under the National Horticulture Mission last year and considering the growth of plantation crops in Athani, Raibag and Chikkodi, the credit plan has made investment proposals for developing a "wine park" in the district.

The allocation for boosting the horticulture and floriculture sectors has been put at Rs. 24 crore.

Farm mechanization

With a view to boosting farm mechanization, Rs. 100 crores has been made available to facilitate farmers purchase tractors, power tillers and other mechanised equipment. To boost industrial progress in the small-scale industries sector, Rs. 134 crore has been provided this year, which is 70 per cent higher than the allocation made last year.

Assistant General Manager of Syndicate Bank V. Srirama Prakash and that of NABARD Arun M. Tallur were present.

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