Tamil Nadu - Coimbatore   

Credit plan suggests better coverage of crop insurance scheme

COIMBATORE: The Potential Linked Credit Plan (PLP 2010-2011) released recently by the District Collector P. Umanath has suggested better coverage of the Crop Insurance Scheme.

The National Bank for Agriculture and Rural Development (NABARD) has prepared the plan and the details given in it will be used in the preparation of the Annual Credit Plan for the district, according to V. Suresh, Assistant General Manager of the NABARD.

The PLP suggests that coverage under the National Agricultural Insurance Scheme (crop insurance) should be improved. Banks should extend the benefits of this programme to more borrowers. Pollachi, Thondamuthur and Annur are the major agricultural blocks in the district and coconut and banana are the important crops grown in the district.

In Thondamuthur, vegetables are also cultivated and due to its closeness to the city, it has a better marketing linkage. Since the agricultural sector faces acute labour shortage, banks should extend more financial assistance for farm mechanisation, the plan suggests.

Credit flow to the non-farm sector is high in Coimbatore district because of the presence of large number of small-scale industries. The plan suggests that the power supply situation should be improved and the industries should have regular supply so that units are able to plan the production programme.

With rapid industrialisation, the district has several business avenues for the services sector. Banks should create more awareness about the facilities and incentives available to the services (other priority sector).

With the high presence of non-farm sector and other priority sector in the district, the potential for credit was high in the district (Rs. 4,280 crore).

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