Southern States - Pondicherry   

Rs. 44.49 cr. for agriculture in Annual Credit Plan

By Our Staff Reporter

Pondicherry March 26. The Annual Credit Plan for 2003-04, envisaging disbursement of Rs. 179.68 crores under different sectors in Pondicherry, was launched at a meeting of the State-level Bankers Committee (SLBC) today.

A communication from the Assistant General Manager of Indian Bank (the lead Bank), Selvam Veeraraghavan, said the potential-linked credit plan of the NABARD had served as the base document for the ACP.

The General Manager of the Indian Bank and Chairman of the SLBC, S.R. Shivaswamy, who launched the plan, highlighted the features of the outlay. The outlay indicated an increase by 16.36 per cent over the target fixed for 2002-03. The ACP envisages coverage of 36,221 families under core sectors of the economy. The ACP has earmarked Rs 44.49 crores (25 per cent of the total outlay envisaged) for agriculture. Crops requiring less quantum of water, horticultural crops, cultivation of medicinal plants and similar other farm activities would entail disbursement of Rs 7 crores.

Non-farm sectors, comprising small scale industries, village and cottage industries and tiny units, would attract disbursement of Rs 60.80 crores under the ACP. Trade and service sector are allotted an outlay of Rs 74.39 crores. Economic empowerment of women is another important feature of the ACP.

Housing finance takes almost a good chunk of the plan outlay to the extent of Rs 36.62 crores. Trade and service sector has been earmarked Rs 74.39 crores, marking 41 per cent of the total outlay. Earlier, Selvam Veeraraghavan referred to special features of the plan. R. Mohan, AGM, Reserve Bank of India, Chennai, R. Nityanandan, AGM, NABARD at Pondicherry, and M. Sreedharan, Director of Research and Planning Department of Pondicherry Administration were among those who spoke.

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