Telangana SLBC reduces credit plan for MSMEs from previous year

Hyderabad, Aug 9 (KNN) The credit target for MSMEs in the state has been reduced from last year’s level, however, the Telangana State Level Bankers' Committee has approved the annual credit plan with Rs 63,047 crore for the current financial year.

There is an increase of 14.39 per cent over last year's credit plan target of Rs 55,113.45 crore.

The credit targets for the agriculture and allied activities have been enhanced from Rs 20,000 crore to Rs 27,000 crore, reports media.

Meanwhile, the targets for other priority sectors, including the MSME and housing, have been reduced from last year's level.

The non-priority sector's targets also did not witness much change at Rs 22,501 crore as compared with Rs 22,174.96 crore in the last financial year, according to the committee. (KNN/SD)