AP credit plan at Rs 1.33 lakh cr

Outlay of state credit plan is Rs 99,894 cr, 22% higher as compared to 2012-13

The annual credit plan prepared by banks in Andhra Pradesh for 2013-2014 envisages disbursement of Rs 1,33,074 crore as loans to different sectors, including agriculture, MSME, housing and education.

The outlay of the state credit plan is at Rs 99,894 crore under the priority sector, which is 21.57 per cent higher as compared with Rs 82,167 crore for 2012-13. With the proposed outlay of Rs 33,180 crore under the non-priority sector, the total outlay is at Rs 1,33,074 crore for the current year.

While lending under the agriculture sector is proposed at Rs 67,224 crore, which is 26.9 per cent higher compared with Rs 52,972 crore for 2012-13, the share of the MSME for FY14 is Rs 12,604 crore.

Under housing and education loans, Rs 6,657 crore and Rs 2,093 crore of lending is proposed respectively for the current year.

“As against the target of Rs 82,167 crore under the priority sector for FY13, banks have disbursed Rs 99,534 crore, thereby achieving 121 per cent of the target.

If the non-priority sector is also taken into consideration, the achievement is 129 per cent with disbursements of Rs 1,42,900 crore against the projection of Rs 1,10,417 crore,” BA Prabhakar, chairman and managing director of Andhra Bank and president, State-Level Bankers’ Committee (SLBC), Andhra Pradesh, said here today.

Stating that under the MSME (micro, small, medium enterprises) sector, the banks had disbursed Rs 11,255 crore during 2012-13, against the projection of Rs 9,343 crore, an achievement of Rs 120 crore, Prabhakar said the achievement under other priority sectors was not satisfactory as they could disburse only Rs 14,631 crore (projection Rs 19,852 crore).

“Banks need to take steps for improving the performance under this,” he said.