Lead bank of Ludhiana, Punjab and Sind Bank, has planned credit outlay of Rs17,324 crores for the financial year 2013-14, which is 37.81% higher than the last fiscal plan of Rs12,571 crores.
Lead district manager Manjit Singh Jaggi on Friday said out of this, Rs11, 653 crores - 67.27% of the total outlay - had been allocated to priority sector; and out of Rs11, 653 crores, Rs5,608 crores would go to agriculture, Rs204 cores to allied activities along with agriculture and Rs3,316 cores to MSME and other non-farm sectors, while Rs2,525 crores would go to priority sectors like education and housing. The Annual Credit Plan (ACP) for district will be launched on May 2.
"Out of the total plan for agriculture, Rs5,173 crores are for short term production crop loans, Rs 63 crores for minor irrigation, Rs 85 crores for land development, Rs 69 crores for farm machinery and Rs218 crores for miscellaneous activities," he said.
"Out of the allied activity, Rs109 crores has been allocated for animal husbandry and dairy development for purchase of milch animals and dairy infrastructure; Rs30 crores for poultry farms to increase egg and broiler production, Rs16 crores for rearing of sheep, goat and piggery; Rs9 crores for development of fish farms to increase fish production in the district; Rs 23 crores for development of forestry; Rs18 crores for creating storage capacity for cereals and other agro products; and Rs20 crores planned for miscellaneous activities, which are not covered in this category," he added.
Non-priority sector has been pegged at Rs5,671 crores and is showing a jump of 222% over the last ACP 2012-13, as private, MNC and foreign banks are no more interested in investing money into the priority sector advances and most of the bank advance is being pumped into loan-against-property category. The same money, the most part of it, will be being used by the borrowers in speculation and other non-productive purposes, as end use of this money is not the lender bank's concern.
Other priority sector, which is the total sum of priority sector education and housing, has been planned as Rs2,525 crores, which is 118% of the last year's figure of Rs 2,137 crores, will provide more education and housing loans to the beneficiaries and will be a major development engine for the total prosperity.
Rs 3,316 crores have been planned for the non-farm sector i.e. MSME and retail advances. During the course of the year, revised targets may be allotted to the banks for better performance.
For employment generation, Rs 20 crores has been planned for the Prime Minister's Employment Generation Program (PMEGP) and the National Rural Livelihoods Mission (NRLM) schemes. The NRLM scheme is being put in place of Swarnajayanti Gram Swarojgar Yojana (SGSY) and details of the scheme are still awaited.