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29 Feb 2024, Edition - 3152, Thursday

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2016-17 Potential Linked Credit Plan assessed at Rs.14,972 crore

Covai Post Network


The Potential Linked Credit Plan for the year 2016-17 has been assessed at Rs.14,972 crore for the district, which is a projected growth of 21 per cent more than the current year.

The plan document, prepared by NABARD, was released by District Collector Archana Patnaik at the District Consultative Meeting of Bankers here today.

Highlighting the major features, R. Inigo Arulselvan, District Development Manager, NABARD, said, of the total plan outlay, 40 per cent was earmarked for agriculture, consisting of 36 per cent farm credit, three per cent for agricultural infrastructure, and one per cent for ancillary activities.

Considering the increasing thrust on MSME sector, 45 per cent had been earmarked for the same – export credit three per cent, education two per cent and housing seven per cent, Arulselvan said.

To augment storage infrastructure for food grains, Tamil Nadu Civil Supplies Corporation was in the process of creating additional capacity of 35,000 MT with financial assistance under Rural Infrastructure Development Fund of NABARD.

Commending the efforts of NABARD, Ms. Patnaik stressed the need for increasing credit formation in agriculture and MSME sector.

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