Nabard pegs 2019-20 priority sector lending target at ₹1,01,378 cr for Telangana
The credit projection for the agricultural and allied sectors is estimated at ₹70,965 crore
The National Bank for Agriculture and Rural Development (Nabard) has pegged the total priority sector credit potential for Telangana at ₹1,01,378.60 crore for 2019-20.
This represents a nine per cent increase over the target for 2018-19 which at was at ₹83,389 crore.
It has released its State Focus Paper at the State Credit Seminar held here on Thursday. This serves as a guiding document for banks and state government.
The credit projection for the agricultural and allied sectors is estimated at ₹70,965 crore with lending for agri investment activities constituting 30 per cent of the total agricultural loans.
With reference to investment credit, an aggregate credit potential of ₹21,179 crore has been estimated under agri term lending/investment credit.
Speaking on the occasion, Vijay Kumar, Chief General Manager (CGM) -Telangana State (TS), Nabard said for successful implementation of any credit plan infrastructure, new and innovative methods of cultivation, convergence of efforts of different institutions and credit support will become vital.
The integration of Nabard’s annual credit plan and state budgetary provisions/efforts might yield better results, he added.
Through Rural Infrastructure Development Fund, Nabard has so far extended funding of ₹11,881 crore do far for various schemes such as Mission Kakatiya.
“We will continue to fund for other key projects,” the Nabard CGM said.
SK Joshi, Chief Secretary, Government of Telangana formally launched the State Focus Paper.