The priority sector credit approximates Rs 48,176 Crore for next financial year for the newly formed state Telangana. NABARD or National Bank for Agriculture and Rural Development has put forth its estimation.
The crop loans have been estimated at Rs. 25,780 Crore and agriculture term loans estimated at Rs. 9,400 Crore. Loans to MSMEs have been estimated at Rs. 5,554 Crore. The other priority sector loans would be around Rs. 7,441 Crore. The figures have been revealed by Jiji Mammen, Chief General Manager, NABARD, during the State Credit seminar held in Hyderabad on Friday. The estimated credit is 19 per cent more than the current fiscal.
Mr. Mammen asked the government to focus on investment credit for sustainable agricultural growth.
The detailed reports presented in the seminar would be the base of the credit policy for next fiscal year.
Harish Rao, Minister for Irrigation and Etela Rajender, Finance Minister of Telangana were also among the speakers in the seminar.