Tamil Nadu   

Rs. 2,010 crore credit flow planned for 2 blocks

Tirupur: Agriculture, small scale industries and other priority sector activities within Tirupur and Udumalpet blocks looks to get an impetus, as a plan document prepared by NABARD envisages a total credit flow of Rs. 2,010 crore in these blocks during 2009-10 fiscal.

Official sources told The Hindu that the projection was an increase of 105.78 per cent over the total credit outlay planned for the two blocks during the current financial year.

Segment wise, credit to non farm sector (NFS) takes a major share accounting about 61 per cent of the total projection. The advances to NFS would flow in towards working capital and for investment credit.

Sources said that to fill the critical gaps in agriculture infrastructure and improve credit flow in and around Tirupur region, a cold storage was planned by the State Government at Pongalur, near here, at an estimated outlay of Rs. 2 crore.

The NABCONS, a consultancy wing of National Bank for Agriculture and Rural Development, had come out with a feasibility report for construction of the cold storage following a request from the government.

The idea of a cold storage was mooted after the farmers were forced to resort to distress sale on many occasions during last few fiscals.

They sold their produces even when the prices crashed because of glut in the market, since they did not have facilities to hold the stock till the prices scaled up.

Agriculture Department sources said the establishment of cold storage plant would enable the farmers to store onions for prolonged periods without losing the lustre till the support price becomes attractive to them.

The plant would not only prevent distress sale but also enable farmers procure loans to raise next set of crops by pledging the receipts issued against storage of onion, they said.

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