The Hindu : Tamil Nadu News : Thrust on promotion of industries in credit plan

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Sunday, Apr 01, 2007
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Tamil Nadu

Tamil Nadu

Thrust on promotion of industries in credit plan

Staff Reporter

Rs. 175.77 cr. earmarked for small industry/non-farm sector

KANCHEEPURAM : In line with the State Government's intention to promote industrial activity on the outskirts of Chennai, bankers in Kancheepuram district have projected a 35 per cent increase in lending towards small-scale industries / non-farm sector during next financial year.

In the annual credit plan (ACP) for 2007-08, released by Collector Pradeep Yadav and received by Deputy General Manager of Indian Bank N. T. Srinivasan here recently, the bankers have assessed that the SSI/non-farm sector could absorb Rs.175.77 crore — nearly 20 per cent of the total credit outlay of Rs.860.87 crore projected in the ACP — as loans from the banks, in view of the rapid industrialisation in the region.

The projection for 2007-08, as contemplated by the bankers, was more than 35 per cent of the total allocation projected in the ACP for 2006-07 for this sector. Similarly, they had also projected a credit flow of Rs.331.92 crore to other priority sectors, which include women SHGs and other service industries such as hotels, transport, clinics etc. in this district, for the next financial year.

Here again, the increase in credit outflow for this particular sector was more than 54 per cent of the outlay projected for 2006-07. At the same time, the bankers have projected an equitable percentage of credit flow for the agriculture sector, which has been allocated with a lion's share of Rs.353.18 crore constituting 41 per cent of the total ACP outlay for 2007-08.

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