Arunachal: Bank loans to farmers and entrepreneurs need to be timely and hassle free: Tage Taki
ZIRO- Local Legislator and Minister Agri and allied Tage Taki urged the banks to disburse the loans and subsidies to farmers and entrepreneurs without any undue delay and hassles.
Chairing the District Consultative Committee and District Level Review Committee meeting for the quarterly ending December 2022 at Golden Jubilee of District Secretariat here on Tuesday, Minister Taki said Atmanirbhar Yojnas designed for agriculture and horticulture farmers are ‘forehanded subsidy schemes’ which need to be disbursed timely in order to avoid loss in business and production as the produces were seasonal in nature.
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‘This forehanded subsidy scheme has been initiated by Govt. of AP in the interest of farmers and banks should not charge any interest to farmers during the ‘grace period’ of loans as the same is paid by Govt.’ he explained, while also admonishing the banks for charging interest to farmers loans from day one of their loans without releasing the Govt. subsidy and loan components in its totality.
Minister Taki also advised the banks and implementing departments to prepare a prior check-list of all the documents required to be submitted by farmers and entrepreneurs in order to avoid undue delay in releasing the loans and subsidies by banks.
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Pointing out that it was the target of Prime Minster Narendra Modi to see youth empowerment and young business start-ups in the country, Minister Taki advised the banks to enhance the Micro, Small and Medium Enterprises (MSME) loans to young entrepreneurs in the district.
‘Since no big industry as in cities is likely to come up in our hilly district or in the state, MSME industries are the plausible panacea to employment generation and economic empowerment of our educated youth’, he explained, while adding small scale industries in bamboo sector, weaving, carpentry, printing press and iron fabrication could be some of the MSME’s which are viable for a hilly district like Lower Subansiri.
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Minister Taki also advised bank branches having cash deposit ratio below 40% to pull up their socks to achieve the national benchmark of 60%. Presently the District CD ratio stands at 43%. A three month saturation campaign for Jansuraksha Schemes at Gram Panchayat level was also laid out starting from the end of this month covering the entire length and breadth of Lower Subansiri District.
Lower Subansiri Deputy Commissioner Bamin Nime also enjoined upon the banks to meet the aspirations of the farmers and entrepreneurs who approach them for loans to set up their own start-ups and business. All Govt. employees including bank officials are paid by Govt. to deliver hassle free services to public and we ought to do justice to our respective duties, he stressed.
Meanwhile, the Potential Linked Credit Plan (PLP) for the year 2023-24 prepared by NABARD for the District was jointly released by Minister Taki, DC and NABARD District Development Manager Mewang Lowang.
PLP is a step towards decentralized credit planning with the basic objective of mapping the existing potential for development through bank credit. PLPs take into account the long-term physical potential, availability of infrastructure support, marketing facilities, credit absorption capacity, policies and programmes of the Central and State Government. This PLP serves as a resource document aimed at assessing the bankable potential for exploitation and estimation of credit requirement of the district under various activities to guide the stakeholders to materialize the growth potential of the district.
The overall estimated projection for institutional credit has been made at 3084.02 lakh for the year current year of which Agriculture sector comprising farm credit, agri-Infrarstructures and ancillary activities accounts for 2322.42 lakh or 75%, MSME accounts for 268.80 lakh or 9% and other public sectors including education, housing, social infrastructure, renewable energy, SHGand BLP accounts for 492.80 lakh or 16%.
The Annual Credit Plan was also launched by Lead District Manager Ziro AK Choudhary.
The meeting was also attended by Lower Subansiri ZPC Likha Sangchorey, ZPM’s of Ziro-I and II circles, bankers including RBI Lead Development Officer from Guwahati Chiranjib Deka and HoD’s.