The district credit plan for the year 2021-22 envisages an outlay of ₹19,112 crore for both priority and non-priority sectors, which is an increase of 25 per cent over the previous financial year.
The annual credit plan prepared and released by State Bank of India, which is the district lead bank, here on Thursday includes ₹14,476 crore for lending to the priority sector (17 per cent increase over the previous financial year) and ₹4,636 crore for the non-priority sector, an increase of 28 per cent over 2020-21.
In the priority sector, agriculture has been accorded almost 44 per cent of the total plan outlay. Out of ₹6,421 crore earmarked for lending in the agricultural sector, ₹3,868 crore is for crop loans and ₹2,583 crore is for term loan, as per the plan document.
A larger share is for SSIs/MSMEs and trade and services which have a cumulative outlay of ₹8,055 crore which is 56 per cent of the total plan outlay.
There is a further break-up in allocation under different heads for both priority and non-priority sectors. Under priority sector, the areas covered for lending include minor irrigation, land development, farm mechanisation, plantation and horticulture, animal husbandry, poultry, and agriculture infrastructure, to name a few. Under MSME and trade and services, the allocation covers export credit, tourism development etc.
An analysis of the performance for the financial year 2020-21 indicated that the lending to priority sector was 80 per cent of the actual target. The achievement was ₹9,954.35 crore against a targeted lending of ₹12,407 crore for SSI and tertiary services. For agriculture, the lending was 85 per cent of the target and against a target for lending ₹3,956 crore, the achievement was ₹3,381.51 crore.
Mysuru MP Pratap Simha, Deputy Commissioner Bagadi Gautam, Mysuru ZP CEO A.M. Yogesh, Lead Bank Manager P. Gopinatha Shastry and others were present.