Baramulla: The Potential-linked Credit Plan (PLP) prepared by NABARD for 2015-16 was launched by Deputy Commissioner Talat Parvez in a District Level Consultative Committee meeting here Thursday.
The total credit potential for 2015-16 under priority sector for the district is estimated at Rs 1446 Cr, with a growth rate of 22 per cent over projection for the year 2014-15, said District Development Manager, NABARD
He added that PLP document takes into account the realistic potential in Agriculture and Allied activities, Animal husbandry, Farm mechanization, irrigation, horticulture, MSME and other activities under Priority Sector. He said that the potential for crop loans and other term loans for agriculture has been assessed at Rs 426 crore and Rs 440 crore respectively. For non-farm sector a sum of Rs 180 crore has been earmarked. For other priority sector Rs 400 crore will be earmarked.
The Deputy Commissioner emphasized that Banks need to increase the coverage of farmers under KCC scheme, extend more credit to water saving systems like sprinkler and drip irrigation system, encourage floriculture, nurseries, horticulture schemes and agro-processing.
The PLP had also taken into account the rural infrastructure facilities available and the infrastructure required in Baramulla district. DDM NABARD said under Rural Infrastructure Development Fund (RIDF), NABARD has sanctioned Rs 337.61 crore upto 2014 to the district for construction of bridges, roads, drinking water projects and other infrastructure. He said that the PLP document presents a comprehensive picture of the physical potential that could be translated into credit potential.
The DDM said that PLP would form the basis for the preparation of annual credit plan for 2015-2016 by the banks in the district and added that the PLP was prepared on the basis of policies of the Central and State Governments, thrust areas identified for the development and strengths and weaknesses of the financing institutions.
Officers from all the line Departments, Bank Coordinators, Lead District Manager and LDO Reserve Bank were present in the meeting.