Tamil Nadu

Credit Plan released for Tiruvannamalai district

more-in

NABARD envisages a credit flow of ₹5,065.03 crore

The Potential Linked Credit Plan (PLP) for 2018-2019 for Tiruvannamalai district was released recently. National Bank for Agriculture and Rural Development’s (NABARD) PLP has envisaged a credit flow of ₹5,065.03 crore for the district.

According to a press release, the credit requirement for short term crop loan was estimated at ₹2,628.57 crore and term loan for allied sectors was estimated at ₹1,085.77 crore. The estimate for micro, small and medium enterprise sector was ₹31.24 crore.

As per the revised guidelines on priority sector lending by Reserve Bank of India (RBI), credit potential for the following sectors are – ₹187.89 crore for agriculture infrastructure, ₹99.73 crore for ancillary activities such as food and agro processing sector, ₹12 crore for export credit, ₹173 crore for education, ₹281 crore for housing, and ₹11.37 crore for renewable energy.

The projected estimates for 2018-2019 is six per cent higher than that of the PLP for 2017-2018, and 11.58% higher than the Annual Credit Plan 2017-2018, the release said.

Collector K.S. Kandasamy, who released the PLP at the district consultative committee meeting, advised the officials to speed up the process of overall development of agriculture and allied activities by making use of the identified potential. He added that the theme “water for every farm” and “per drop more crop” is relevant for the district where farming is the backbone of more than four lakh farmers. Water management is crucial as 85% of groundwater is exploited in 40 out of the 52 firkas in the district, according to the release.

M. S. Shenbagaraj, joint director (Agriculture), N. Balaji, lead district officer of RBI and S. Elavarasu, lead district manager were present, the release said.

Why you should pay for quality journalism - Click to know more

Related Topics Tamil Nadu
Recommended for you
This article is closed for comments.
Please Email the Editor

Printable version | Jan 26, 2020 8:42:45 AM | https://www.thehindu.com/news/national/tamil-nadu/credit-plan-released-for-tiruvannamalai-district/article22912230.ece

Next Story