UPA to provide loans to farmers: Chidambaram

Coimbatore, July 1: Union Finance Minister P Chidambaram today said the United Progressive Alliance (UPA) government was committed to providing loans to farmers for their upliftment.

Addressing a function organised by the Indian Overseas Bank at Thondamuthur in the outskirts of the city, he said the centre has earmarked Rs 1.75,000 crore to disburse loan to the farmers this year and the amount is expected to increase.

Urging the nationalised banks to expedite the disbursement of agricultural loan, Mr Chidambaram said the farmers should use improvised modern technologies like sprinkler and drip-irrigation to generate more productivity.

Concerned over the death of farmers in Maharashtra, Andhra Pradesh and Karnataka, he said Prime Minister Manmohan Singh assured the farmers in Maharashtra yesterday that their problems would be addressed soon. Dr Singh will shortly visit Andhra Pradesh and Karnataka to solve the problems of farmers, he added.

Mr Chidambaram said the agricultural growth is expected to touch four per cent this year to ensure eight per cent GDP growth. A survey had revealed that only 25 per cent of the country's farmers are availing loans from nationalised banks and 22 per cent farmers from private money-lenders.

He said 51 per cent of farmers were unable to get loans and the government had taken steps to provide loans to them.

Talking to newspersons here Mr Chidambaram denied the allegation of Mr Jagat Singh, son of former External Affairs Minister Natwar Singh that he was influencing the Enforcement Director to take action against him and his father and termed the allegation as ''absurd''.

UNI

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