The Hindu Business Line : Coimbatore district credit plan outlay up

HAVING surpassed the annual plan projection target for 2002-03, the Coimbatore District Annual Credit Plan (ACP) outlay for the 2003-04 fiscal envisages an absolute increase of Rs 264.64 crore at Rs 2,891.92 crore over the previous year's financial projection of Rs 2,627.28 crore.

The plan envisages an increase of 15.65 per cent and 9.02 per cent under service area lending and urban and semi-urban lending respectively, to ensure adequate credit to rural areas.

Sectoral analysis indicate that the agriculture and allied sectors' outlay at Rs 430.32 crore was higher by 17.56 per cent over the previous year, while the non-farm sector - which took up 70 to 75 per cent of the total plan outlay for the district - outlay at Rs 2,046.11 crore was just 5.02 per cent higher than the 2002-03 ACP outlay.

The credit plan allocation for other priority sector was up by 32.75 per cent at Rs 415.49 crore.

Sector-wise achievements show that the bankers were able to surpass targets under the agriculture and allied sector and other priority sector advances, but were below the mark in advancing to the non-farm sector, although the overall performance was rated as quite good.

Though the district has been identified as a highly industrialised one, with a major chunk of the allocation earmarked for the SSI sector, there appears to be a slip in achievement level (particularly towards this sector) in the last two years.

While the overall achievement levels have been appreciable, there was a growing concern on the declining trend in recovery of bank dues under priority sector advances.

In order to achieve the desired results, 49 recovery camps were conducted in 2002-03, wherein 449 borrowers were contacted and a sum of Rs 15.07 lakh recovered. On the Lok Adalat platform, 258 accounts involving Rs 2.24 crore were settled.

The district deposits have risen by 15.04 per cent to Rs 9,138 crore in March 2003 from Rs 7,943 crore at the end of the earlier fiscal. Advances witnessed a 17 per cent growth from Rs 8,423 crore in March 2002 to Rs 9,854 crore in March 2003.

In effect, the district earned the distinction of heading the list of districts in Tamil Nadu in making the highest outlay under the ACP, yet again.

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