Imphal, September 29: Informing that a sum of only Rs 10.18 crores could be attained out of the Rs 39.40 crores target set for Agricultural Financing for the term 2003-04, Chief Minister O Ibobi today appealed to all the Commercial banks to be more involved in the agricultural sector and help in help in developing the State's economy.

Speaking as the president at the "Special State Level Bankers Committee" meeting at the conference hall of the Institute of Co-operative Management Lamphelpat, Chief Minister O Ibobi lauded the Central Govt for providing the "Special Package for Farm Credit" to enhance flow of agricultural credits among the poor farmers of the country and added that such measures will greatly help in promoting and developing farming in the country.

The percentage of investment in the farm credit during 2003-04 was Manipur Rural Bank (101%), Manipur State Cooperative Bank (231%), Imphal Urban Cooperative Bank (239%) and SBI (39%) with the Commercial banks recording below 19%, said CM O Ibobi who is also in charge of Finance and planning.

Commenting on the problems of unemployed educated youths in the State, CM informed that the total number of unemployed educated youths in the State have reached 4.28 lakhs in August this year and further added that employment problems would be solved to a certain extent if 'the commercial banks shows more interest in promoting the Agricultural sector.

Stating that the farmers could be assisted by providing timely and adequate credit facilities through short term agricultural loans, CM said that the farmers should also be encouraged to grow plantation crops, cash crops and medicinal plants in the State and help improve the sagging economy.

He also said that other Agriculture allied activities such as veterinary, fishery etc should be encouraged and developed to make the State self sufficient as the State has good potential for the development in these fields.

The availability of credit facilities in the hill dist is very unsatisfactory and needs to strengthened and supervised so that the flow of credit to the hill dists is increased and access to credit made more easy, asserted the CM adding that credit flow should not be confined to the farm sector alone but should also be encouraged in the manufacturing and tertiary sector as well.

UBI chairman and Managing Directorate Prakash Singh who also spoke on the occasion said that the Government should set realistic targets to achieve something concrete and further added that the State Government and the bank authorities should sit down together and chalk ways to implement successfully the employment generating schemes such as PMRY and SGRY schemes in the State.

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