Orissa draws Rs 650 cr agriculture credit plan
Orissa government has drawn up a programme for extending Rs 650-crore agricultural credit during the coming rabi season.
By Agencies |
BHUBANESWAR: Orissa government has drawn up a programme for extending Rs 650-crore agricultural credit during the coming rabi season. With emphasis on diversification, the state co-operative banks would give priority to remunerative crops such as pulses, oilseeds, sunflower and mustard while disbursing loans to farmers, an official note said.
The agricultural credit will be given on priority for vegetable crops and other seasonal horticultural crops like chilli and coriander.
“A successful rabi crop is the key towards enabling farmers to repay the investment loans taken by them for creation of irrigation sources,” the note prepared for a meeting of district collectors presided by chief minister Naveen Patnaik here on Saturday, said.
It said the target of Rs 850 crore for kharif-’06 was expected to be achieved in full by the end of this month. The agricultural credit for both kharif and rabi seasons would be added for enabling the state to achieve the doubling of credit in three years, the co-operation department note said.
The level of disbursement of agricultural credit by the end of ’02-03 taken as the base year was Rs 742 crore and was expected to reach a level of Rs 1,500 crore by ’07.
Mr Patnaik on Saturday had announced an assistance of Rs 33 crore to co-operative banks which, in turn, would provide farmers loan at 7% interest rate. The state government was also contemplating rescheduling of short-term co-operative loans to medium term — from one year to three years — in the regions having crop loss of more than 50%.
“The collectors have been requested by the co-operation department to quickly assess the areas having crop losses of more than 50 per cent so as to facilitate rescheduling of co-operative loans to farmers,” co-operation minister Surama Padhy said.
Balasore district central co-operative bank, which covered flood-hit Balasore and Bhadrak districts have been sanctioned a target of agricultural credit of Rs 115 crore for disbursement during the rabi season.
The agricultural credit will be given on priority for vegetable crops and other seasonal horticultural crops like chilli and coriander.
“A successful rabi crop is the key towards enabling farmers to repay the investment loans taken by them for creation of irrigation sources,” the note prepared for a meeting of district collectors presided by chief minister Naveen Patnaik here on Saturday, said.
It said the target of Rs 850 crore for kharif-’06 was expected to be achieved in full by the end of this month. The agricultural credit for both kharif and rabi seasons would be added for enabling the state to achieve the doubling of credit in three years, the co-operation department note said.
The level of disbursement of agricultural credit by the end of ’02-03 taken as the base year was Rs 742 crore and was expected to reach a level of Rs 1,500 crore by ’07.
Mr Patnaik on Saturday had announced an assistance of Rs 33 crore to co-operative banks which, in turn, would provide farmers loan at 7% interest rate. The state government was also contemplating rescheduling of short-term co-operative loans to medium term — from one year to three years — in the regions having crop loss of more than 50%.
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“The collectors have been requested by the co-operation department to quickly assess the areas having crop losses of more than 50 per cent so as to facilitate rescheduling of co-operative loans to farmers,” co-operation minister Surama Padhy said.
Balasore district central co-operative bank, which covered flood-hit Balasore and Bhadrak districts have been sanctioned a target of agricultural credit of Rs 115 crore for disbursement during the rabi season.
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