Telangana raises credit outlay for 2020-21, despite pandemic impact

Hyderabad: Despite the Covid-19 pushing Indian economy into doldrums, Telangana Agriculture Minister S Niranjan Reddy has launched the State annual credit plan for 2020-21 with a staggering outlay of Rs 1,61,620 crore as against Rs. 1,46,238.44 crore for the year 2019-20 with an increase of 10.52 per cent of the total plan.

State Level Bankers Committee's 26th quarterly review meeting was held here attended by the Agriculture minister, Finance Secretary K Ramakrishna Rao and SBI Chief General Manager On Prakash Mishra etc. Disbursals under Agricultural Sector was projected at Rs. 75,141 crore for the 2020-21., an increase of 9.5 per cent over previous year. Reddy said that Rs. 12,061 crore would be extended under Agri. Term Loans as against Rs. 11,445 crore in the previous year.

The minister said that an amount of Rs. 8,048.75 crore has been allocated for Housing sector, Rs. 2,165.73 crore for Education loans and Rs 2,167.55 crore is allocated for others sectors.

Under Atma Nirbhar Bharat Abhayan, the banks have already sanctioned Rs. 2513 crore and disbursed Rs. 1688 crore to MSME beneficiaries .Under Covid -19 assistance Rs. 231 crore was disbursed to eligible farmers as 10 per cent emergency credit line.