The Hindu : Tamil Nadu News : Target fixed to cover 30,000 youth under PMRY in Tamil Nadu

Online edition of India's National Newspaper
Tuesday, Nov 27, 2007
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Tamil Nadu

Tamil Nadu

Target fixed to cover 30,000 youth under PMRY in Tamil Nadu

Staff Reporter

Rs.117 crore disbursed to 28,000 youth under the scheme during 2007
Steps will be initiated to set up Tanflora floriculture park phase-II at Kolatti

Krishnagiri: A target has been fixed to cover 30,000 youth under the Prime Ministers Rozgar Yojana in Tamil Nadu in the current fiscal. Assistance to the tune of Rs.117 crore was disbursed to 28,000 youth under the scheme during 2007, Minister for Rural Industries Pongalur N. Palanisamy has said.

Cooperative Bank

Inaugurating the Tamil Nadu Industrial Cooperative Bank branch at Krishnagiri on Monday the Minister said that the extent of loan for setting up industries under the PMRY had been increased from Rs.2 lakh to Rs.5 lakh. Male entrepreneurs must have passed standard VIII and be less than 35 years of age. Mr. Palanisamy said that TAICO had achieved a turnover of Rs.3,500 crores in the State. The State Government will open new branches at Pudukottai, Ramanathapuram, Villupuram and Permabalur districts in the current year. The Government has asked the Centre to include TAICO under the Credit Guarantee Trust Fund.

On getting approval from the Centre TAICO would extend loan assistance with subsidy to entrepreneurs and youth for starting small-scale and cottage industries. Efforts have been initiated to include TAICO bank under the Rural Employment Guarantee Scheme of the Centre.

The State had attracted more foreign investment since the DMK came to power. A number of multi-national companies had established their factories in the State. It had attracted Foreign Direct Investment to the tune of Rs.15, 000 crores as against Rs.2, 500 crore during the previous AIADMK regime. The Minister distributed loan assistance worth Rs.15 lakh under the PMRY scheme to 8 beneficiaries.

Auction centre

Participating in the function Collector Santhosh Babu said that steps would be initiated to set up Tanflora floriculture Park phase-II at Kolatti near Denkanikottai. About 268 acres of land had been identified for this purpose.

The district administration has also identified five acres of land for establishment of State-of-the art Flower Auction Centre near Hosur. MLAs T. Senguttuvan, D. Ramachandiran and T. Meghanathan also spoke.

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