Tamil Nadu   

Chidambaram ignores Jayalalithaa's charge

By Our Special Correspondent

COIMBATORE, JULY 31. The Union Finance Minister, P. Chidambaram, today chose to ignore the allegation of the Chief Minister, Jayalalithaa, that Central Ministers from the State had not taken any interest in including Tamil Nadu in the list of States to be supported for handling drought-like conditions.

She had said, "it is shocking and shameful that though there are 12 Ministers in the Union Government hailing from Tamil Nadu, they have not bothered to take steps to get it included in the list of States to be supported by the Centre for drought relief."

Drought

Responding to queries of presspersons at Pollachi, 45 km from here, he said, "she is free to do what she likes and we will do what we think is right. Ultimately it is for the people to judge."

Asked whether Tamil Nadu should be declared a drought-hit State, he said: "I don't know. I have no information. It is for the Union Agriculture Minister to say."

Mr. Chidambaram, who visited rural bank branches in the district, admitted that he was not satisfied with their performance with regard to agricultural and educational advances as per the new guidelines announced on June 18. He was confident that the "satisfaction level" would increase after some time.

On interest rate for agricultural loans, which was 8.5 per cent against 7.75 per cent for housing loans, he said the Centre would not interfere with regard to the "price." It was the decision of the Reserve Bank of India. He contended that the rates were "not high."

Rethink on interest rate

So far, the farmers had been borrowing at 25-30 per cent from moneylenders. "Now there is availability of loan at 8.5 per cent which they will gladly accept." There might be some rethink on the interest rate, he said.

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