Agriculture MSMEs to see higher credit flow this fiscal year
New Delhi, May 17 (KNN) The agriculture Micro, Small and Medium Enterprises (MSMEs) in Coimbatore district are likely to see higher in-flow of credit in this fiscal year.
According to a media report, the annual credit plan prepared by a lead bank in Coimbatore has 6,341 crore rupees marked for the agricultural sector. The figure is up by 12 per cent as compared to the previous layout.
Also the credit target for the MSME sector is up by 18 per cent amounting to 7,355 crore this year.
The increased credit flow to the agriculture sector is done with emphasis on technological upgradation, green-house projects, horticulture crops and the agro-bio tech systems. Also credit is being given to manage the wastelands in the district and developing them into godowns and cold storages.
The loans are also being disbursed for minor irrigation projects, animal husbandry activities, agro business centres, vermi composting, food processing and mushroom cultivation.
Also the other priority sectors for the credit flow including housing, education loan, renewable energy, social infrastructure, self-help groups and export credit are to witness a 15 per cent higher credit flow this year amounting 2,615 crores.
The annual credit plans takes into accounts loans given by different banks and financial institutions under different government schemes for entrepreneurship development. (KNN/ DA)