The Hindu : Tamil Nadu News : Rs.904.91-crore Potential Linked Credit Plan for Theni district

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Sunday, Nov 23, 2008
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Tamil Nadu

Rs.904.91-crore Potential Linked Credit Plan for Theni district

Staff Reporter

Crop loan has been increased to Rs.440.08 crore

THENI: The Potential Linked Credit Plan for the district for 2009-10 envisages a credit outlay of Rs.904.91 crore, for development of various activities under priority sector, 11.6 per cent more than the Annual Credit Plan target of Rs.810.51 crore for 2008-09, according to Collector P. Muthuveeran.

He was launching the PLP, prepared by the National Bank for Agriculture and Rural Development, at a bankers’ meet held here on Friday.

Plan to augment credit flow, accelerating capital formulation, generating additional employment opportunities were some of the main concepts of the PLP. Estimation of sector-wise credit potential, identification of constraints and gaps and delineation of action points were other concepts. Above all, the main objective of the PLP was to map the existing potential for development of rural economic activities.

In the PLP projections, total agriculture credit has been ramped up to Rs.603.58 crore, 14.8 per cent up when compared to last year credit of Rs.525.72 crore.

Crop loan has been increased to Rs.440.08 crore, 26 per cent up from Rs.349.55 crore in 2008-09. Other priority sectors loan has been scaled up to Rs.301.33 crore, an increase by 2.4 per cent compared to Rs.279.86 crore for previous year projection.

The ground level credit had been shot up at the rate of 36.6 per cent and 25.85 per cent in the last two years. Financial Inclusion chapter has been included in the PLP this year. Panchayat raj institution sand agri-extension support and services were added last year, he said.

The NABARD has sanctioned 706 projects under Rural Infrastructure Development Fund at an estimated cost of Rs.165.28 crore so far of which 524 projects were completed.

Chinnamanur block has been selected for implementation of village development programme that aimed at developing the hamlets in all aspects of socio-economic development and create infrastructure facilities. Local people, government departments, banks and NGOs would be roped in for implementation of this programme, said P. Muthuveeran.

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