Nashik district admin clears Rs 60,575-crore annual credit plan, MSMEs get biggest push

Nashik: The Nashik district administration has approved an annual credit plan (ACP) of Rs 60,575 crore for the 2026-27 financial year, crossing the Rs 60,000-crore milestone for the first time.

The plan reflects a strong policy focus on the micro, small and medium enterprises (MSME) sector, which has emerged as the cornerstone of the district’s growth strategy.The credit plan was cleared at the district-level consultative committee meeting chaired by additional collector Hemangi Patil. The target represents a 15.15% increase over last year’s Rs 52,603-crore plan, translating into an additional Rs 7,972 crore in projected lending.The higher target follows a strong performance by the district’s banking network in 2025-26, when banks disbursed Rs 57,881.62 crore, significantly exceeding the annual target. “While the total plan is split between Rs 35,575 crore for the priority sector and Rs 25,000 crore for the non-priority sector, the MSME sector has secured the highest single allocation of Rs 20,000 crore, marking a substantial absolute rise of ₹2,800 crore and a notable 16.28% growth over the previous year’s target of ₹17,200 crore.

This is going to focus on export-oriented growth,” Bhiva Lavate, district lead bank manager, said.Industry representatives welcomed the move, saying enhanced credit flow to MSMEs would stimulate job creation. “This is a welcome step as it will directly lead to more direct and indirect employment as well,” Ashish Nahar, president of the Nashik Industries Manufacturers’ Association, said.Officials said the increased allocation was intended to support startups, facilitate industrial expansion and strengthen export capabilities of local enterprises.

Agriculture and allied activities have been allocated Rs 11,475 crore under the new plan, an increase of Rs 1,072 crore or 10.30% over the previous year’s target. However, the crop loan component has been retained at Rs 4,500 crore, indicating no growth in this segment.Instead, the administration has shifted its focus towards allied agricultural activities and long-term investments. Credit allocation for allied sectors has risen sharply by 36.04%, from Rs 1,823 crore to Rs 2,480 crore, while agriculture term loans have increased by 11.86%, from Rs 3,500 crore to Rs 3,915 crore.According to senior agriculture department officials, the revised distribution is aimed at promoting secondary rural enterprises, irrigation infrastructure, farm mechanisation and high-value horticulture, signalling a move towards diversified and sustainable agricultural growth.Senior officials emphasized that this mammoth capital injection is engineered to back budding startups, accelerate industrial expansion, and build out export avenues for local industries.