The Hindu : Tamil Nadu News : Rs.711 crore allocation for farm sector

Online edition of India's National Newspaper
Sunday, Apr 01, 2007
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Tamil Nadu

Tamil Nadu

Rs.711 crore allocation for farm sector

Special Correspondent

Annual Credit Plan launched

VILLUPURAM: District Collector Brajendra Navnit recently launched the Annual Credit Plan (ACP) for 2007-08 for Cuddalore district with a total credit outlay of Rs.826.30 crore.

A substantial portion of the allocation, amounting to Rs. 711.78 crore, which constitutes 86 per cent of the total plan outlay, has gone to the agricultural sector. While Rs. 80 crore has been earmarked for other priority sector, small-scale industries and other non-farm activities get Rs. 34.52 crore.

The Collector congratulated the efforts of the lead bank, Indian Bank, National Agriculture and Rural Development Bank (NABARD) and other filed-level functionaries involved in the formulation of the ACP in making it meaningful one. Mr. Navnit called upon the bankers to actively involve themselves in the implementation of the Government-sponsored schemes during 2007-08. The target fixed under the ACP must be achieved in full to enable the district to achieve all-round growth.

He advised farmers to avail themselves of the credit facility being provided through banks. He further said micro-credit to the self-help groups was the best avenue through which the rural poor had been brought into formal institutional credit system to improve their standard of living.

Deputy General Manager of Indian Bank Savarimuthu, thanked the Collector for launching the ACP. He called upon the bankers to achieve the targets in various sectors, including the Government schemes, for the overall development of the district.

G. Umamaheswara Rao, Assistant General Manager, NABARD, Villupuram, also participated.

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