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Over Rs. 500-crore credit flow likely for Puducherry: NABARD

PUDUCHERRY: The National Bank for Agricultural and Rural Development (NABARD) has estimated an amount of Rs. 550.78 crore to be the credit flow for the Union Territory during 2007-08.

A release from NABARD said the figure was 25.4 per cent higher than the Potential- linked Credit Plan of Rs 439.16 crore.

The projections have been made taking into account the shrinking potential for agricultural sector and the increased potential in “other priority sector.”

The other priority sector included retail trade, small scale business, education, housing, consumption loans and financing self-help groups, the release further said.

The other sector constituted 52 per cent followed by non-farm sector 25.3 per cent, and agricultural loans 22.7 per cent of credit flow. The term loans for agricultural and allied activities accounted for 38.4 per cent of the agricultural loans, the release said.

Of the term loans for allied agricultural activities, the potential for dairy development has been assessed at 25.3 per cent, 29.3 per cent for farm mechanisation, 12.1 per cent for plantation horticulture, 10.9 per cent for minor irrigation, 5.6 per cent for storage facility and 4.57 per cent for fisheries development.

Among the six blocks in UT, the Reddiarpalayam accounted for 24.9 per cent of the total Potential-linked credit plan followed by Karaikal 22.1 per cent, Karikalampakkam 21.2 per cent, Villianur 20.09 per cent, Yanam 5.2 per cent and Mahe 5.2 per cent.

The credit plan prepared for the UT also suggested measures to strengthen the cooperatives.

The agency had recommended implementation Vidyananthan Committee report, extending PCCLDB so that the bank was in a position to avail of refinance from higher financing agencies and to extend credit for agricultural long-term loans, the release said.

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