Priority sectors. Definition: Sectors characterized by their strategic nature and their ability to raise the growth pattern or have high employment capacity and priority according to the development plans.
priority debts must be pais IN FULL, non-priority does not.
I believe the answer would be only if you need it. If you have enough money to get you through school then non-priority, if you do not have money for schooling then I would say priority.
employment on non farm activity
Other than priority sector lending i.e. education,agriculture,housing etc...these all are priorty sector lendings. And like personal loan,credit card all these are count in non priority lending. Diffrence is interest rate is high for non priority lending. Government is too cautious for priority lending because it can boost our indian economy.
Milan Kocourek has written: 'Soviet technological performance and policy in high priority sectors'
Priority sector refers to those sectors of the economy which may not get timely and adequate credit in the absence of this special dispensation. Typically, these are small value loans to farmers for agriculture and allied activities, micro and small enterprises, poor people for housing, students for education and other low income groups and weaker sections.
The primary difference between priority mail and non-priority mail lies in delivery speed and service features. Priority mail typically offers faster delivery, usually within 1-3 business days, along with additional benefits like tracking, insurance, and flat-rate shipping options. Non-priority mail, often referred to as standard or first-class mail, may take longer to arrive and usually lacks the same level of service and features. As a result, priority mail is often used for urgent shipments, while non-priority mail is suitable for less time-sensitive items.
Presumably your talking about a credit in a general trade or deposit type account, (not a payroll matter, rent deposit or something on the priority list), it is simply an unsecured non-priority claim.
Various measures have been taken by RBI to deploy credit to various sectors of the economy. for this a certain percentage of bank credit has been earmarked to the priority sector at low interest rates. Low interest rates have been fixed for supply of credit to agriculture and to export sector as well as to other sectors in the priority list.
Examples of unsecured priority debts are, child and/or spousal support, delinquent taxes, rent and utility arrears, any fines or restitution(s) that have been ordered by the court. Unsecured non-priority are, store cards, unsecured personal loans (unless held by a bank where the person has accounts), credit cards, and so forth.
A priority road is a designated roadway that has the right of way over other intersecting roads, meaning that vehicles on the priority road do not need to stop for those on secondary roads. This designation is typically marked by specific traffic signs indicating the priority status. Priority roads are important for managing traffic flow and enhancing safety at intersections. Drivers on non-priority roads must yield to traffic on priority roads when merging or crossing.