Plastic alternatives: Palaniswami urges banks to fund SHGs

Chennai: The ban on single-use plastics came into effect from 1 January, and Tamilnadu Chief Minister K Palaniswami Thursday urged banks to offer loans to plastic manufacturing firms to help them take up other businesses.

Speaking at a function organised by the National Bank for Agriculture and Rural Development in Chennai, he said, “I appeal to banks to offer loans to women’s Self Help groups, currently engaged in producing alternative products for plastics. Besides, giving loans to companies engaged in manufacturing plastics will help them take up other business opportunities,” he said.

Referring to the Centre’s crop insurance scheme, he said, “In 2016-17, the amount of claims received from insurance companies was Rs 3,526 crore. In 2017-18, about Rs 8,000 crore of funds have been allocated. In 2018-19, 16.39 lakh farmers registered under the scheme, which is 2.41 lakh more than that registered in the previous year.”

The Chief Minister said the government recently released a food processing policy following the proposal to set up 10 mega food parks in the State. Last year, the AIADMK government had announced that it would set up mega food parks that would lead to creation of jobs in rural areas. “Through these initiatives, steps have been taken to ramp up farm production, besides increasing revenue to farmers in Tamilnadu,” he said.

NT Bureau