Rely on industrial sector for country's growth:Finance Minister

Tiruchirapalli, Sep 9 (UNI) Union Finance Minister P Chidambaram has observed that a country could not progress only by relying on the agricultural sector but it could so by relying on the industrial sector.

Speaking after inaugurating a new technology incubator building at the Tiruchi Regional Engineering College Science and Technology Entrepreneurs Park (TREC-STEP) here yesterday, the Minister pointed out that the agricultural sector could not grow beyond four per cent though the country's growth relied on farmers. Only the industrial sector could make the country prosperous so that the government was making all kind of efforts to boost the industrial sector with an annual growth target of 12 per cent, he added.

He said the government would take steps to increase the credit flow to the micro, small and medium enterprises through the Small Industries Development Bank of India (SIDBI) and other agencies.

He assured to increase the credit flow to the SME sector by 20 per cent a year and double the total quantum of lending in five years.

MORE UNI