It could be a boom time for farm sector in Tirupur district in the coming fiscal (2012-13) if one goes by the credit flow projections brought out by the National Bank for Agriculture and Rural Development (NABARD).
The total envisaged credit requirement for the sector, as projected by NABARD in its Potential Linked Credit Plan (PLCP) document brought out for 2012-13, would be Rs.1,353.16 crore which was 18.78 per cent more than the corresponding projections in the PLCP for the year 2011-12.
Sub-sector wise, estimations for ‘agricultural term credit for food security' had been pegged at Rs. 474.24 crore, an increase of 26.27 per cent, and that for crop loans at Rs. 878 crore, a hike of 15.09 per cent.
Under the ‘agricultural term credit for food security' component, the lion's share of Rs.209.8 crore was expected to flow in food and agro processing activities with Rs. 58 crore to be utilised for plantation and horticulture promotion and Rs. 52 crore for farm mechanisation.
“We have projected the credit flow for the ensuing fiscal based on the availability of infrastructure, extension services, marketing support and the effectiveness of rural financial delivery system,” NABARD Assistant General Manager V. S. Sriram told The Hindu .
Mr. Sriram was of the opinion that subsidy-linked schemes for post harvest management, irrigations systems and allied activities like dairy, poultry etc., were expected to boost the investments and capital formation in the farm sector.