Special Correspondent

Proposal to sanction Rs 1347 crores worth crop loans

  • Rs 1640 crores allotted for priority sector lending
  • District selected for finance inclusion scheme

    ONGOLE : Prakasam district has adopted a credit plan with an outlay of Rs. 2,116 crores for 2007-08, an increase of 31.5 per cent over current year.

    Speaking to newspersons here today, District Collector B Udaya Lakshmi said Rs. 1,640 crores had been allotted to priority sector lending. They propose to sanction crop loans amounting to Rs. 1,347 crores during next year as against Rs. 840 crores and Rs. 935 crores allotted in the previous two years. The district will achieve the target given by the Finance Minister that agriculture lending should be doubled in three years.

    Bridge loan

    The bankers have been asked to give priority for providing bridge loan of Rs. 10,000 each for construction of houses under Indiramma programme in rural and urban areas and help achieve target in the second phase of the programme beginning from April.

    Self-help groups would be provided linkage amounting to Rs. 120 crores during next year as against Rs. 104 crores given this year.

    The district would get Rs. 60 crores in the next three years under the Prime Minister's relief package to rehabilitate families of farmers who had committed suicide or those who are in distress. They plan to construct watersheds at Rs. 30 lakhs each or provide milch animals with 50 per cent subsidy. Under fisheries, assistance would be provided to an extent of Rs. 2 lakhs to each unit of one hectare with 50 per cent subsidy for SC and ST families and 40 per cent subsidy for others.

    Mrs Udaya Lakshmi said Prakasam district had been selected for implementation of Finance Inclusion scheme announced by the Union Finance Minister in which banks would open free accounts to all the families in the district. Eligible families would be provided credit cards for Rs. 25,000 each. Under this scheme, the banks are expected to reach all the families in the district.