Focus on farm sector in credit plan

Staff Reporter

NAMAKKAL: The farm sector has been given more thrust in the Annual Credit Plan of the district for 2007-08, with the sector getting 69 percent of the total plan outlay, Collector G. Sundaramurthi said here on Wednesday.

Mr. Sundaramurthi released the plan, prepared by the lead bank of the district, Indian Bank, at the district level review meeting held here.

He that the plan envisaged a total outlay of Rs. 891.67 crore for the current fiscal, which was 12 percent higher when compared to the total outlay planned for 2006-07. The farm sector would get a sum of Rs. 613.76 crore, which was 69 percent of the total outlay.

Out of Rs. 613.76 crore, crop loans would be extended to the tune of Rs. 386.93 crore. It was estimated that minor irrigation, land development, farm mechanisation, plantation and horticulture and others agriculture activities would be given Rs. 67.5 crore. Agriculture-allied activities including dairy and poultry would get a sum of Rs. 159.33 crore.

The Collector said that the non-farm sector would be provided a sum of Rs. 135.71 crore and other priority sectors Rs. 142.20 crore during the current financial year.

Of the total outlay, the share of commercial banks was estimated to be Rs. 631.81 crore, he said. It was planned to disburse Rs. 515.48 crore in the rural areas and Rs. 376.19 crore in the semi urban areas, he added.

Mr. Sundaramurthi congratulated officials of the lead bank for bringing out the plan within the scheduled time.

Indian Bank Deputy General Manager C. Dharmarajan also spoke.