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10.06 p.c. higher plan outlay

By Our Staff Reporter

COIMBATORE, MARCH 23. The Annual Credit Plan (ACP) for Coimbatore district with a 10.06 per cent higher credit plan prepared by the District Lead Bank ie., Canara Bank was released by the District Collector, N. Muruganandam, here today.

The Assistant General Manager of the Canara Bank, B. Sivaraman, received the first copy of the ACP. The plan envisaged a credit requirement of the district at Rs. 3,182.96 crores, the largest in Tamil Nadu, which is 10.06 per cent ie., Rs. 291.04 crores higher than the Annual Credit Plan of the previous year. The plan co-relates to the tune of 73.6 per cent to that of the potential linked credit plan released by NABARD. Observing from the plan document, there was a gap of 23 per cent between the potential available and the likely credit flow.

The plan outlay had Rs. 457.10 crores for agriculture and allied activities, Rs. 2,210.34 crores for small-scale industries and Rs. 515.52 crores for Other Priority Sector (OPS). For rural areas, the allotment was close to Rs. 573.65 crores as against the allocation of Rs. 93.32 crores during the previous year. The allocation for urban areas had an additional allocation of Rs. 197.72 crores over the previous year bringing it to Rs. 2,609.31 crores.

The District Collector, N. Muruganandam, detailing the salient features, said that the ACP had grown nearly 14 times from Rs. 241.28 crores as on 1993-94 to Rs. 3,182.96 crores for the year 2004-05. As against the allotment of Rs. 430.32 crores for the agriculture and other allied sector during the year 2003-04, Rs. 457.10 crores had been allotted this year registering a 6.22 per cent increase.

Poultry sector got Rs. 43.06 crores and other farm related activities would get a lion's share of Rs. 25.08 crores. With regard to SSI sector, Rs. 2,046.11 was the allotment during the year 2003-04 and it had risen to Rs. 2,210.34 crores registering a growth of 8.03 per cent.

The total allocation for SSI sector occupies 69.44 per cent of the district's entire total plan outlay. The special focus had been given to hosiery and motor pump set industry with an allocation of Rs. 1,004 crores and Rs. 408.54 crores respectively. The coir industry has been given an allocation of Rs. 7.39 crores. Mr. Sivaraman pointed out that Credit Deposit ratio in Coimbatore stood at an all-time high of 104 per cent as against the 101 per cent of previous years.

The Collector pulled up BDOs and TAHDCO for inordinate delay in asset creation with regard to Government-sponsored programmes. He also cautioned the NGOs to refrain from providing revolving fund to groups without adhering to stipulations. Use of words like `banks' for their funding agency and charging of exorbitant interest would attract punishment from the RBI, he said.

The Lead District Officer, RBI, R. Sampath, Divisional Deputy Manager, NABARD, K.V. Subramanian and S. Venkataraman, Lead District Manager of Canara Bank spoke on the occasion.

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