Credit plan for Ramanathapuram released

Collector Dinesh Ponraj Oliver on Saturday released the NABARD’s potential linked credit plan envisaging a credit flow of ₹4706.78 crore for 2021-22.

Speaking to reporters, he said that the credit requirement of short term crop loan was estimated at ₹3049.68 crore and total credit potential for agriculture including agriculture infrastructure and allied activities was ₹3400.87 crore.

The estimates for the micro, small and medium enterprise sector stood at ₹193.11 crore. As per the revised guidelines on priority sector lending by the RBI, credit potential for agriculture infrastructure, export credit, education, housing, renewable energy and among others involving bank credit was estimated at about ₹840 crore. The projected estimates for 2021-22 was 10.25% higher than the previous fiscal year, he added.

He urged officials to expedite the process of overall development of agriculture and allied activities by exploiting the identified potential. He said the PLP 2021-22 has been prepared keeping in mind the Centre’s push for doubling farmers’ income in the next two years.

Mr. Oliver stressed the role of Farmers Producers Organisation (FPO) in enhancing the farmers’ income through aggregation of farm produce, value addition and collective efforts to market linkages. In addition, he also informed that efforts would be made to promote more FPOs in the district through NABARD that support exclusively Animal Husbandry (goat and indigenous cow rearing) and fisheries sector thereby enhancing additional income for the farmers.

The NABARD district development manager T. Ashok Kumar said that the NABARD had been bringing out the district-wise PLP since 1989. It forms the basis for Annual Credit Plan prepared by banks every year. The PLP highlights the need for enhancement of agricultural term loans and the need for greater credit flow for the off farm sector for creation of sustainable local employment.