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CM urges banks to fund companies to make plastic alternatives

Press Trust of India  |  Chennai 

With the ban on single-use coming into effect from January 1, K Palaniswami Thursday urged banks to offer loans to manufacturing firms to enable them take up other business opportunities.

He said there was a need for use of non-products among consumers as the ban on single use came into force from January 1.

The was speaking at a function organised by the National Bank for Agriculture and Rural Development here.

"I appeal to banks to offer loans to women's Self Help groups, currently engaged in producing alternative products for

Besides, giving loans to companies engaged in manufacturing will help them take up other business opportunities", he said.

The had in June 2018 announced that it would ban the use of plastic items including non-biodegradable carry bags from January 1, 2019 to "gift a plastic-free state to future generations".

Referring to the Centre's crop scheme, he said the state was the highest beneficiary under the scheme in 2016-17.

"In 2016-17, the amount of claims received from 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", he said.

The said the government recently released a following the proposal to set up 10 in the State.

"Through these initiatives, steps have been taken to ramp up farm production, besides increasing revenue to farmers in Tamil Nadu", he said.

O Panneerselvam, while presenting the budget last year, had announced that the government would set up that would lead to creation of jobs in rural areas.

The are proposed to come up in Theni, Virudhunagar, Tuticorin, Erode, Cuddalore, Salem, Dindigul, Tirunelveli, Tiruvannamalai and Krishnagiri.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, January 10 2019. 22:45 IST