The Hindu : Andhra Pradesh News : Lion’s share for crop loans in potential-linked credit plan

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Thursday, Dec 25, 2008
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Andhra Pradesh

Andhra Pradesh

Lion’s share for crop loans in potential-linked credit plan

Staff Reporter

Collector releases the plan at District Consultative Committee meet

Total plan outlay is Rs. 3,907 crores
Rs. 900 crores earmarked for SHGs

Kakinada: The potential-linked credit plan (PLP) of East Godavari district for 2009-10 was released by Collector Gopalakrishna Dwivedi at the District Consultative Committee meeting here on Wednesday. It (PLP) made a total plan outlay of Rs. 3,907 crores comprising an allocation of Rs. 1,493 crores (39 per cent) for crop loans alone (Rs. 1,218 crores in 2008-09). A sum of Rs. 900 crores was earmarked for self-help groups (SHGs), Rs. 369 crores for agricultural term loans, Rs. 582 crores for Other Priority Sector and Rs. 563 crores for non-farm sector.

The PLP forms the basis for preparation of the Annual Credit Plan as per the guidelines of the Reserve Bank of India (RBI). The 2009-10 PLP projections are 22.54 per cent higher than that of the previous year (Rs. 3,189 crore), according to NABARD Assistant General Manager K.V. Satyanarayana. Other major components of the PLP included in agricultural term loans are: farm mechanisation (Rs. 71 crores), plantations and horticulture (Rs. 50 crores), poultry and dairy industries (Rs. 68 crores and Rs. 56 crores) and fisheries (Rs. 35 crores). The credit disbursals in 2005-06, 2006-07 and 2007-08 were Rs. 2,099 crores, Rs. 2,428 crores and Rs. 2,612 crores respectively.

Lead District Manager A. Shanmukhachari said provision of credit facilities for areas newly brought under irrigation, increasing cultivable area of horticultural crops and providing post-harvest facilities, creating market infrastructure for agricultural products and consolidation of SHGs were thrust areas of the 2009-10 PLP. Bank managers would prepare the village-level credit plans on the basis of PLP.

Job scheme

Earlier, the Collector sought steps for speedy implementation of the newly launched Prime Minister’s Employment Generation Programme (PMEGP) under which 287 micro-enterprises have been targeted for the district. The PMEGP was entrusted to Khadi and Village Industries Commission and District Industries Centre. The salient features of PMEGP are extension of financial assistance to any individual aged above 18 without any condition of income ceiling. The maximum cost of projects in the manufacturing sector was fixed at Rs. 25 lakhs and Rs. 10 lakhs in the business/service sector.

RBI Assistant General Manager A. Sethy, Andhra Bank Deputy General Manager B.S. Rama Rao and Corporation Bank Zonal Manager Fareed Ahmed were among those present.

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