The Hindu : Tamil Nadu News : NABARD’s potential-linked credit plan envisages credit outlay of Rs. 824.25 cr.

Online edition of India's National Newspaper
Sunday, Dec 02, 2007
ePaper

Tamil Nadu

Tamil Nadu

NABARD’s potential-linked credit plan envisages credit outlay of Rs. 824.25 cr.

Special Correspondent

80.2 per cent of total outlay allotted for agriculture

“Likely credit flow under the priority sector during 2007-08 based on past trends is
Rs. 687.8 crore”

TIRUVANNAMALAI: A Potential Linked Credit Plan (PLP) prepared by the National Bank for Agriculture and Rural Development (NABARD) for Tiruvannamalai district for 2008-09, and launched by Collector Satyabrata Sahoo here on Thursday, has envisaged a total credit outlay of Rs. 824.25 crore.

According to S. Narayanan, Assistant General Manager of NABARD, Tiruvannamalai, the plan maps the potential for the progress of each rural economic activity and makes an assessment of the support likely from the banking system.

The 2008-09 PLP document has been prepared after taking into account improvements in infrastructure, policy changes and the initiatives of the Government, thrust areas identified for development, and strengths and weaknesses of the financing institutions.

The document talks about the physical potential that could be translated into credit potential, and the infrastructure and policy initiatives required to harness these potentials in each district.

Adoption

NABARD has adopted Pakkiripalayam village in Chengam block to bring about all-round prosperity of the village, besides financial inclusion, he said.

Agricultural, which is the primary sector, gets Rs. 660.9 crore, accounting for a major chunk (80.2 per cent) of the total outlay of Rs. 824.25 crore in the PLP for 2008-09.

This comprises Rs. 547.57 crore for crop loans (66.4 percent of the total outlay), Rs. 14.62 crore for minor irrigation, Rs. 14.37 crore for land development, Rs. 31.6 crore for farm mechanisation, Rs. 12.63 crore for plantation and horticulture, Rs. 26.67 crore for animal husbandry and Rs. 13.44 crore for others.

Food processing sector

An outlay of Rs. 28.41 crore has been projected for the agro and food processing sector, Rs. 26.13 crore for the non-farm sector and Rs. 108.81 crore for other categories under the priority sector.

Mr. Narayanan said that the likely credit flow under the priority sector during 2007-08 based on past trends is Rs. 687.8 crore. The PLP serves as the basis for the preparation of the annual Service Area Credit Plan by banks in the district.

The document also contains information on the increasing role of micro credit innovation in the rural economy, he said.

Printer friendly page
Send this article to Friends by E-Mail

Tamil Nadu