The potential-linked credit plan for the year 2017-18 at an outlay of Rs. 7070.61 crore for priority sectors for Virudhunagar district was released here on Wednesday.
Collector A. Sivagnanam released the plan prepared as per the guidelines of National Bank for Agriculture and Rural Development (NABARD) and Reserve Bank of India. A statement said that the project outlay was 14 per cent higher than that of the previous year.
Among the priority sectors, agriculture and agri-related schemes have been provided a loan amount of Rs. 2,836.50 crore, small and tiny industry-related loans would get Rs. 2837.36 crore, other priority sectors such as education and housing have been provided 1,396.66 crore.
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The Assistant General Manager, NABARD, J. Subramanian, said that the focus of the plan was in line with the Union government’s policy of doubling the income of farmers. “This includes providing training to farmers for capacity-building and adoption of newer technologies to bring down their expenditure and thereby add to their income,” Mr. Subramanian said.
Banks had been asked to simplify their procedures while giving loans to farmers.
“The thrust is to give more agricultural term loans that will help the farmers create assets,” he said.
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While the farmers were increasingly getting jewel loans to raise crops, he said term loan would help them to get farm pond, borewells, and other related activities such as sheep rearing and diary cattle rearing as income generation activities.
Stating that capital formation was important for sustainability of farming activities, Mr. Subramanian said, “We have advised to give 45 per cent jewel loans and 55 per cent as term loans.”
Similarly, the plan also dealt in detail climate proofing of agriculture. With the monsoon playing truant, the agriculture department and universities had been asked to develop drought- resistant crops. Farmers would also be advised to go for water saving devices such as sprinklers and drip irrigation.
RBI Assistant General Manager, A. Ramkumar received the first copy. Project Director of Mahalir Thittam Vijayalakshmi, Joint Director (Agriculture) Gurumoorthy, Joint Director (Animal Husbandary) Sukumar, Lead Bank Manager Sakthivel were present.