Tamil Nadu sets Rs 4,500 crore crop loan disbursal target

CHENNAI: Tamil Nadu government has set a crop loan disbursal target of Rs 4,500 crore for the year 2013-14, about Rs 500 crore higher than the previous year.

During 2012-13, crop loans to the tune of Rs 3,728.74 crore was distributed to over 9.17 lakh farmers as on February 28, 2013, Minister for Cooperation, Sellur K Raju said.

In the policy note for his department for 2013-14 tabled before the state Assembly, Raju said "the government has fixed the crop loan target of Rs 4,500 crore for the year 2013-14."

"This crop loan will be interest-free to farmers who repay promptly and an amount of Rs 160 crore has been set apart for the interest incentive in the (annual) Budget," he said.

Later, replying to the debate on the grants for his department, he announced 100 mobile fair price shops for residents in hill areas.