Credit plan for Amritsar dist launched, will give a push to farm sector
Tribune News Service
Amritsar, December 30
Ranbir Singh Mudhal, ADC (Development), launched the National Bank for Agriculture and Rural Development (NABARD) Potential Linked Credit Plan (PLP) for 2021-22 with an outlay of Rs 13,368 crore for the border district on Wednesday. The PLP was launched at the District Consultative Committee. The PLP document covers the potential credit areas under the priority sector. The PLP outlay has been increased by approximately 1.21% from last year.
He stressed on quality lending to farmers under modern farming practices and the need of nurturing farmer interest groups and FPOs so as to boost the district’s development. Bankers are guided to focus on the MSME sector as it plays crucial role in welfare of the district.
NABARD district development manager Jaskirat Singh informed that agriculture credit should increase under investment credit so that capital formation in agriculture sector can take place. The theme for the year 2020-21 is ‘Collectivisation of agriculture produce for enhancing farmers Income’ to improve farm economy by adopting collectivization by farmers for both forward and backward linkages.
Taking into account the above factors, the total projections of the PLP for the year 2021-22 have been estimated at Rs13,368 crore inclusive of Rs4,516 crore for crop loan, Rs 781 crore for term loan for agriculture allied, Rs521 crore for agriculture infrastructure, Rs608 crore for agriculture ancillary activities, Rs4,310 crore for micro, small and medium enterprises (MSME), Rs609 crore for export credit, Rs522 crore for education, Rs1,307 crore for housing, Rs32 crore for renewable energy, Rs80 crore for other categories and Rs77 crore for social infra indicating a growth of 1.21% over PLP 2020-21 projections.
