Industries get major share in Pondy ACP

By Our Staff Reporter

PONDICHERRY, MARCH 28. The Annual Credit Plan (ACP) for the Union Territory of Pondicherry for 2001-2002 involves a credit outlay of Rs. 138.74 crores, as against Rs. 127.51 crores earmarked last year.

A communication from the Indian Bank, which is the lead bank here, said the ACP was launched at the State-level Bankers` Committee meeting today. Mr. T.K. Subramanian, General Manager, released the ACP, which was received by Mr. P.R. Narayanan, General Manager, Reserve Bank of India, Chennai.

The Plan shows an increase in allocation by Rs. 11.23 crores over the last year's allocation. As many as 104 bank branches, including the 18 private banks, comprising 84 branches of commercial banks, 19 cooperative banks and one State land development bank, the Government-owned PIPDIC and the Small Industries Development Bank of India are involved in evolving and implementing the ACP.

As many as 34,326 persons affiliated to different sectors are being covered under this plan. Industries have been allocated a major share of 40 per cent, followed by 32 per cent for trade and services sector. Twenty-eight per cent has been set apart for farm sector.

There is a decline in the allocation for agriculture sector due to the largescale conversion of agricultural lands into industrial and construction plots. The allocation for farm sector is Rs. 35.09 crores while the allied activities of agriculture have taken a share of Rs. 4.27 crores. Industries have been allocated a credit package of Rs. 54.63 crores while trade and services will get Rs. 44.75 crores.

The State-Level Bankers Committee has kept in focus the guidelines of the National Bank for Agriculture and Rural Development (NABARD) while finalising the Credit Plan.

Mr. Mansoor, Project Officer of DRDA, Pondicherry, Mr. P. Gopalakrishnan, Assistant General Manager, Indian Bank, Mr. Ramados, AGM, Reserve Bank, Mr. Sukumar, AGM, NABARD, and Dr. Raja, DGM, also spoke.

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