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Coimbatore

Credit potential plan projected at Rs. 16,892 crore

Covai Post Network

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NABARD has projected a Credit Potential Plan of Rs. 16,892.31 crore for Coimbatore district for 2017-18, an increase of 13 per cent over 2016-17.

Of the total outlay, Rs. 7,506 crore, that is 38 per cent, has been earmarked for the agriculture sector, comprising 24 per cent for crop loan and 14 per cent for farm credit to agriculture and allied activities, NABARD District Development Manager Inigo Arul Selvan said while highlighting the contents of the plan.

Considering the economic profile of the district and its role in nurturing the MSME sector, Rs. 7,735 crore (46 per cent) has been earmarked for the same, he said.

The potential credit for other priority sectors like export credit, education and housing is assessed at Rs. 2,651 crore (16 per cent), he said.

Releasing the plan document, District Collector T N Hariharan stressed the need for increased credit flow aimed at capital formation both in the agriculture and the MSME sectors.

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