“There is an urgent need to financially assist the farmers to mitigate their hardship, as 139 local bodies (sub-districts) during the 2016 kharif season and 160 local bodies for the rabi season were declared drought-hit across the state,” said the Chief Minister at the State-Level Bankers’ Committee meet here on Thursday.
Projecting the annual credit plan for this fiscal (2017-18) at Rs 1,60,020 crore, the Chief Minister, who also holds the finance portfolio, regretted that the targets set for a similar plan in the last two fiscals 2015-16 and 2016-17 were not achieved under the education and housing loan portfolios.
“I found the disbursement under the housing loan portfolio declined to Rs 5,916 crore in 2016-17 from Rs 9,061 crore in 2015-16,” noted Siddaramaiah.
The disbursement under the education loan also declined to Rs 1,639 crore in 2016-17 from Rs 2,248 crore in 2015-16.
“Banks have achieved only 80 per cent of the target set for crop credit disbursement for 2016-17,” recalled Siddaramah on the occasion.