Madurai Collector M. S. Sangeetha released the potential linked credit plan prepared by National Bank for Agriculture and Rural Development (NABARD) for Madurai district for the fiscal year 2025-26, at the district level bankers meeting on Wednesday.
According to a press release, the total credit projection for Madurai district stands at ₹35,784 crore, with the agriculture sector receiving the highest allocation of ₹21,354 crore. The PLP forms the basis for finalisation of the Annual Credit Plan (ACP) of the district.
The Collector advised the banks to allocate more targets towards medium and long-term credit in agriculture as there was good potential to promote farm mechanisation, micro irrigation systems, animal husbandry sector, etc. in the district. The Collector also emphasised on more focus on other priority sectors like education, housing and renewable energy etc. for holistic development of the district.
Assistant General Manager (NABARD) A. S. Sakthi Balan emphasised the need for increased long-term lending in the agriculture and MSME sectors to enhance capital formation at the district level. He highlighted the importance of investments in godowns, cold storage facilities, drip and sprinkler systems, and water-efficient irrigation methods to drive agricultural growth.
Some of the key highlights of PLP 2025-26 include: significant focus on farm credit, water resources, mechanisation, horticulture, and animal husbandry to enhance productivity. Credit flow of ₹11,335 crore projected to promote entrepreneurship and industrial growth. Investment in storage, irrigation and renewable energy to boost rural development.
NABARD’s collaboration with institutions like TNAU in order to support Agri Business Incubation for local employment generation. Strengthening support for agro-based exports and market connectivity to enhance farmer earnings. Encouraging the adoption of digital banking solutions in the rural areas to increase the financial accessibility.
Promoting sustainable agricultural practices, renewable energy adoption and afforestation to mitigate climate risks and increased focus on educational loans and affordable housing solutions to improve the quality of life in rural areas, were some of the other highlights of PLP 2025-26.
Published – February 06, 2025 09:15 pm IST