Plea for fresh loans with extended repayment period for coconut growers


Thanjavur Member of Parliament S.S.Palanimanickam has urged the Union Finance Minister Nirmala Sitharaman to extend fresh loans to coconut farmers with a repayment period of four years in view of the losses sustained by them in cyclone Gaja.

In the memorandum submitted in person to Ms. Nirmala Sitharaman in New Delhi recently, Mr.Palanimanickam said farmers, particularly the coconut farmers, who have lost around 60 lakh trees in the Gaja cyclone, were yet recover from the blow as the cyclone had crippled the agriculture and allied activities in the fertile region of Cauvery Delta.

In order to extend a supporting hand to the coconut farmers to recoup, the Union Finance Ministry should advise Lead Banks to disburse fresh loans to coconut and other farming activities with minimum interest and an extended repayment period of four years in view of the fact that to bring back the coconut plantation to life would take longer period.

He also requested the Finance Ministry that the moratorium of one year, announced for farmers last year, be extended by two more years. The moratorium period for loans extended to the Self Help Groups and to those who have availed educational loans should also be extended.

Stating that such relief would go in a long way in alleviating the distress of farming community in the cyclone affected districts, which was inspected by the present Finance Minister while she was holding the portfolio of Defence, Mr. Palanimanickam urged Ms. Nirmala Sitharaman to revisit the Gaja affected areas in the Delta region to gauge the situation and issue necessary directions to the concerned agencies to provide succour to the affected farmers.

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Printable version | May 25, 2020 1:23:41 PM | https://www.thehindu.com/news/cities/Tiruchirapalli/plea-for-fresh-loans-with-extended-repayment-period-for-coconut-growers/article28825652.ece

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