The annual credit plan for the Telangana State has been pegged at Rs 63,047 crore for the year 2014-15.

This was announced by Santanu Mukherjee, President of State Level Bankers’ Committee (SLBC) and Managing Director, State Bank of Hyderabad at its second meeting held here on Friday.

Apart from the disbursal of credit, the focus of the credit plan would be on developing forward and backward linkages and addressing credit needs of rural sectors, Mukherjee said after the formal launch of the plan.

Banks in the state should also gear-up for the implementation of a new financial inclusion scheme proposed to be launched by the Government of India on August 15 this year, he added.

Rajiv Sharma, Chief Secretary to the Government of Telangana said there was a need to step up focus on non-crop loans. ``We need to increase the productivity and profitability of the farmers by increasing non-crop loan component of agricultural advances,’’ he said.

The Government was working the modalities for achieving consolidation of agricultural holdings in the State and helping farmers in mechanisation of agriculture.

``We are also working on a new industrial policy with a single window clearance with measures to encourage small and medium industries, he added.

On the loan-waiver, he said Government would soon find a solution on the stalemate with the Reserve Bank of India on issues such of rescheduling of loans, the official said.

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