Market linkage vehicles and loan recovery bikes distributed
DIMAPUR, JUNE 5 (MExN): Agriculture Minister, G Kaito Aye, today stated that loan default is a trend of concern which needs to be reversed in Nagaland. He was speaking during distribution of Market Linkage Vehicles and Loan Recovery bikes under Integrated Co-operative Development Project (ICDP), Department of Co-operation was done in Medziphema on June 4.
The Minister said that non repayment of loans is “one of the major problems among our people.”
“And let me tell you, people who fail to pay back loans are not just hampering the chances of their own growth, but causing hurdles for many other deserving people. Even in this project, 50 to 75 percent is loan component, so if you do not pay back the loans, how can you expect this project to progress to its next phase?” the Minister questioned.
The Minister informed that the IDCP is being implemented presently in the districts of Kohima, Tuensang, Longleng, Kiphire and Peren for a period of four years.
He said that the ICDP looks to address the key issues affecting co-operative societies like small business volume, lack of credit facilities from financial institutions, and lack of marketing linkages and avenues.
“Rs 52.09 crore earmarked for this project will go towards strengthening of agricultural credit co-operatives, creation of infrastructure facilities such as go-downs, banking counters, transport vehicles, small processing units, cold storage, poultry, piggery and dairy units etc,” the Minister said.
Market linkages, he stated, is a vital factor in agriculture and allied sectors, and has “long been our handicap.” “Your hard work goes to waste if your products cannot reach the market on time. To remedy that, we are providing nine transport vehicles for the selected co-operative societies during the first year under this Integrated Co-operative Development Project (ICDP) and more transport vehicles will be funded in the coming years,” Kaito stated.
He further informed that along with the transport vehicles, the government has sanctioned five recovery bikes for Fast Track Loan Recovery Drive to the ICDP Cell for the five districts. The recovery bikes are targeted for the present ICDP project, and other outstanding loans.
He meanwhile appealed to all beneficiaries to “please pay back the loans that you avail. Loans are meant to be loans, not Christmas gifts. If you do not pay back your loans, the project fails. You fail. We all fail.”
He further hoped that with significant recovery of loans, the 2nd phase of the project can be implemented again in the districts of Mokokchung, Phek, Wokha, Zunheboto and Dimapur.
Anjani Kumar Srivastava, Regional Director, National Co-operative Development Corporation (NCDC), Guwahati, (The funding Agency) in his speech stated that there are more schemes that can be availed under NCDC, assuring his support and assistance in the days to come. He urged the farmers to co-operate with the state Government and take advantage of the financial assistance that can be provided through NCDC.
