Kidwai for credit facilities to farmers, small artisans

Chandigarh, May 9 (UNI) Haryana Governor A R Kidwai today stressed the need for advancing credit facilities to small artisans, entrepreneurs, businessmen and farmers for starting their ventures and improving their living standard.

Dr Kidwai stated this while inaugurating the first branch and Regional office in Fullerton India Credit Company here He said there was upsurge in the economy of the country as the foreign reserves of India had touched 200 billon dollars. Last year, the growth rate was 9.2 per cent which was likely to go up to 10 to 11 per cent in the next five years.

He said that India at present was meeting the 60 per software needs of the country as it had the maximum talented scientific and technical manpower in the World.

The Governor said that India was also emerging as a hub for testing drugs and high yielding seeds due to availability of cheap and technical manpower in the country. By 2025, he said, more than 40 per cent of the people in the country will be in upper middle group and the number of those living below poverty line would also reduce appreciably.

Fullerton CEO G S Sundararajan said his company planned to open 500 branches in the country by the end of this year to aid financial requirements of business community and salaried groups.

UNI