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The National Bank for Agriculture and Rural Development (Nabard) has projected a 26 per cent growth in the potential linked credit plan (PLP) for Karnataka at Rs 1,08,373 crore during the year 2015-16 compared to the ongoing fiscal.
Of the total projection, 64.58 per cent (Rs 69,985 crore) is assessed for agriculture and allied sector, 12.29 per cent for MSE including agro-processing and 23.13 per cent for other priority sector.
"The PLPs for 2015-16 are prepared on the edifice of base PLP projections for the year after accounting for factors such as changes in government's priorities and policies, strengthening of rural infrastructure, market forces, cost escalation and trends among others," said G R Chintala, chief general manager, Nabard, Karnataka.
Presenting the highlights of the credit plan for FY16 at a seminar, here today, he said Nabard has formulated Area Based Schemes in each district which will form a part of the District Credit Plan of the district with detailed banking plan in an effort to provide a further fillip to disbursement of agriculture term loan.
Keeping the importance of capital formation in agriculture sector for its sustainability over a period of time, the theme for State Focus Paper is chosen as "accelerating the pace of capital formation in agriculture and allied sector", he said.
As against the target of priority sector advances of Rs 73,362 crore under the Annual Credit Plan (ACP) for the state for 2013-14, an amount of Rs 73,995 crore was disbursed during the year, thereby recording an achievement of over 100 per cent.
Although the state has been consistently achieving its overall targets under ACP for the last few years, achievement under Agriculture Term Loan was 79 per cent of target during 2013-14 with as many as 11 districts in the state with low achievement (below the state average) under Term Loan sector. Achievements under MSME and other priority sectors were at 122.39 per cent and 77.45 per cent respectively, Chintala said.
For the year 2015-16, Nabard has identified 74 area-based schemes involving a total financial outlay of Rs 953 crore in the areas of dairy farming, playhouses, agro-processing, storage, small ruminants, plantation and horticulture.
