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PM assures help for cooperative sector

New Delhi, Oct 20 (IANS) Prime Minister Manmohan Singh Friday has assured that the government would take an early decision to ensure cheap credit for farmers from the cooperative banks, Congress leader Digvijay Singh said here.

Friday, October 20, 2006 | 6:15:45 PM IST (+05:30 GMT)
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New Delhi, Oct 20 (IANS) Prime Minister Manmohan Singh Friday has assured that the government would take an early decision to ensure cheap credit for farmers from the cooperative banks, Congress leader Digvijay Singh said here.

Digvijay Singh, who led a party delegation to the prime minister, said Manmohan Singh has promised a decision would be taken in two weeks on providing financial assistance to the cooperative banks to advance agricultural loans to the farmers.

The delegation, which included senior party leaders, Ahmed Patel, Motilal Vora and National Cooperative Union of India president S.S. Sisodia, urged for withdrawal of the 30 percent income tax recently imposed on the cooperative banks.

It also sought full interest rate subvention (subsidy) on farm loans, recapitalisation of rural cooperative banks and expeditious implementation of the Vaidyanathan Committee recommendations on the cooperative sector.

Manmohan Singh is believed to have told them such issues could be taken care of during the presentation of the next budget.

Party sources said the delegation expressed reservations on the economic policies and that the finance ministry's not-so-people-friendly policies have distanced the government from the common man.

However, Congress secretary Ved Prakash, who was a part of the delegation said: 'Keeping in view the farmers' plight and the concerns expressed by the people in the cooperative sector, we requested the prime minister to take some steps to save them.'

Copyright : Indo-Asian News Service
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