DC Kupwara unveils performance under Annual Credit Plan

KUPWARA, MAY 09: The district administration under the chairmanship of District Commissioner Kupwara, Khalid Jahangir today released a statement showing achievements against targets in various sectors under the Annual Credit Plan during the last four financial years.

The Annual Credit Plan advances for Agriculture Sector during financial year 2014-15 were  Rs. 99.38 crores against a target of 227.57 crores, an achievement of 44 percentage points. The achievement against target in this sector has been 42 percent for financial year 2015-16, 78 percent for 2016-17 and an appreciable 83 percent for 2017-18.

For Micro, Small and Medium Enterprises, the advances for financial year 2014-15 are Rs. 65.02 crores against a target of 106.18 crores, an achievement of 61 percentage points. The achievement for FY 2015-16  was 87%, for 2016-17 it was 62% and an encouraging 116% for FY 2017-18. Against a target of Rs. 150.18 crores for  FY 2017-18, Rs.174.17 crores were advanced.

The Annual Credit Plan advances in Education Sector for last three financial years preceding 2017-18 are 28%, 30% and 9% respectively. For the financial year 2017-18, 4.26 crores were advanced against a target of Rs. 28.35 crores. The achievement has therefore been around 15% in this sector.

For Housing Sector the advances in terms of percentage points during FY 2014-15, 2015-16 and 2016-17 have been 29%, 31% and 10% respectively. For the FY 2017-18, against a target of Rs. 49.28 crores, 89.38 crores have been advanced. This reflects a phenomenal growth of 181 percents.

The Renewable Energy Sector witnessed outstanding growth figures of 252 percent during FY 2016-17. During FY 2017-18 against a target of  Rs. 3.10 crores, Rs.0.10 crores were advanced.

The figures for other sectors mention an achievement of 104% during FY 2014-15, 5% during 2015-16, 15% during 2016-17 and 20% during 2017-18.

The total Priority Sector advances and achievements indicate healthy figures. For the FY 2014-17, against a target of Rs. 400.68 crores, 203.94 crores were advanced, an achievement of 51 percentage points. These figures for succeeding fiscal years are 48% during FY 2015-16, 57% during FY 2016-17 and 91 percent for FY 2017-18. Pertinent to mention here, an amount of 593.85 crores was advanced against the annual target of Rs. 650.50 crores during FY 2017-18.

The Non-Priority Sectors also witnessed growth. The figures for FY 2014-15 show advances to the tune of 102%, 151% for FY 2015-16, 185% for FY 2016-17 and 294% for FY 2017-18.

The achievements against targets under Annual Credit Plan for all the sectors including Non-Priority sectors for the last four financial years are 62% during FY 2014-15, 70% during FY 2015-16, 78% during FY 2016-17 and 124% during FY 2017-18. An amount of Rs. 966.13 crores have been advanced against a target of Rs. 777.00 crores during the last fiscal.

While releasing the statement, DC Kupwara reiterated the need to conduct financial literacy programmes on regular basis to educate the rural masses about benefits entailed under schemes initiated by financial institutions of the Central and State Governments.