CHENNAI: Tamil Nadu Cooperative Minister K R Periyakaruppan on Tuesday informed that Chief Minister M K Stalin was making an announcement on the issue of procuring sugarcane from farmers to be distributed as a part of the Pongal gift package.

Taking to media persons after holding a discussion with zonal joint registrars and officials of Cooperative banks here, Periyakaruppan said that the CM was discussing the matter and an announcement would be made soon.

"He was asked about the likelihood of procuring sugarcane from farmers for distribution as a part of the Pongal gift pack," he said.

Claiming that the volume of crop loans disbursed to farmers has increased exponentially in the DMK regime, the Minister, according to a release issued late Tuesday night, said that the average annual crop loan disbursed in the previous AIADMK regime was only Rs 6,064 crore, but the Rs 10,000 crore mark was breached in 2021-22 after the DMK formed government. Noting that the government surpassed the target of Rs 12,000 and disbursed Rs 13,400 crore in 2022-23, the minister said that the government has set a target of Rs 16,500 crore in the current fiscal.