Puducherry: Chief Minister N. Rangasamy has said an ideal economic growth had been achieved here as a result of coordinated steps of the Union Territory Administration. There was an impressive rise in per capita income, which had shot up to Rs.62,500 per annum from Rs.42,000 some years ago.

Addressing the platinum jubilee celebration of the Vijaya Bank here on Wednesday, Chief Minister said the per capita income would rise further to touch a level of Rs.1 lakh per annum in the near future.

He said the Union Territory government had evolved several income generating programmes for self-help groups, self-employment projects for educated youth and promotion of industries that did not damage the environment or disturb the sub soil water.

Stressing that banks functioning in the Union Territory should play a pro-active role in various welfare and developmental programmes of the government, the Chief Minister said the processing of loan applications should be simplified and that loans should be sanctioned expeditiously.

Borrowers should also be prompt in repaying the loans to the banks, he said. The plan allocation for current fiscal (2006-207) was Rs.1410 crore against Rs.810 crore in the preceding year.

There was sustained economic growth in Puducherry and the tempo could be maintained by positive response from all sectors including banks.

Mr. Rangasamy commended the amazing growth and development of Vijaya Bank all over the country. He hoped that the number of branches of the Bank spread over the entire country would rise from present 978 branches to 1000 soon. Senior Branch Manager of Vijaya Bank R. Srinivasan welcomed those present.

Assistant General Manager of Vijaya Bank (Chennai) Gopal Shetty, who presided, referred to the growth the bank had made over the last 75 years in its combined business activities all over the country.

Assistant Branch Manager of the bank Bala Karthika proposed the vote of thanks.

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