Parvathipuram: Nabard releases Credit Plan with Rs 4000.54 cr

Parvathipuram: NABARD launches Potential Linked Credit Plan (PLP) for Parvathipuram Manyam district with an estimation of Rs 4,000.54 crore.

The District Potential Linked Credit Plan (PLP) for the next financial year 2024-25 prepared by the National Bank for Agriculture and Rural Development [NABARD] was unveiled on Tuesday by district collector Nishant Kumar. District Consultative Committee (DCC) meeting of bankers and government departments held at the collectorate on Tuesday.

The collector said that the district was mainly depending on agriculture and the banks to finance the agribusiness, food processing activities in the district to generate better income and livelihood for farmers.

T Nagarjuna, DDM, NABARD explained that the Potential Linked Credit Plan was being prepared by NABARD each year keeping in view the national priorities, policies of the Centre and state government, basing on infrastructure, linkage support, physical potential available in various primary, secondary, tertiary sectors and developmental needs of the district.

The PLP credit plan for the financial year 2024-25 was prepared by involving all stakeholders such as the Lead Bank, bankers, progressive farmers and heads of departments of agriculture, horticulture, animal husbandry, fisheries, MSME, DRDA & MEPMA and other wings connected with priority sector lending and development, he said.

P Naga Praveen, district lead officer, RBI, J L N Murthy, LDM., MV Karunakar and others attended.