Staff Reporter

11 per cent increase in outlay for medium and small sectors

MADURAI: The agrarian sector has received 19 per cent more allocation in the annual credit plan (2007-08) for the district. A sum of Rs.696.13 crore has been earmarked for agricultural operations and Rs.53.32 for agriculture-allied activities.

Medium and small scale industry has also been given thrust with an outlay of Rs.217.06 crore, indicating an increase of 11 per cent compared to the previous year. The ACP envisages an outlay of Rs.1,225.66 crore under priority sector advances, an increase of 21 per cent.

Launching the ACP last week, the Collector, S.S. Jawahar, emphasised the need for effective implementation of the plan both in terms of quantity and quality. He said micro credit played a significant role in poverty alleviation as it created a level-playing field.

He urged the bankers to liberally extend credit under the differential interest rates to all marginalised sections of society for socio-economic development. While extending credit, the officials should ensure that the benefits reached actual beneficiaries, including the poorest among the poor. The Lead Bank Manager, Vanagamudi, the Canara Bank's Senior Regional Manager, S.V. Krishnamoorthy, and the RBI's Assistant General Manager, S. Srinivasan spoke.