NABARD estimates Rs 3,200 cr credit plan for JK
PRESS TRUST OF INDIA
Jammu, Apr 8: Becoming partner in the infrastructural development and agricultural growth in Jammu and Kashmir, NABARD today said it has estimated potential credit plan of Rs 3,204 crore under priority sector in 22 districts of J&K for the current financial year.
“To encourage financing to agriculture and rural sector, a potential credit plan of Rs 3,204 crore under priority sector for all 22 districts of J&K has been prepared for the year 2011-12 by NABARD,” Bank’s Chief General Manager (CGM) M L Sukhdeva told reporters here.
Giving details, he said that credit plans for agriculture, off farm sector and priority sector are Rs 792 crore, Rs 723 crore and Rs 1,691 crore, respectively.
“A growth of 26.27 per cent in credit has been planed for the current financial year over 2010-11,” he said.
NABARD prepares resource-based potential credit plan for agriculture and allied activities for each district on yearly basis to give the direction for development of the district.
This plan is considered as base for annual credit plan to be prepared by banks on yearly basis, he said.
NABARD provides refinance to banks for financing agriculture and allied activities and non farm activities to encourage lending to these sectors, he said.
During 2010-11, Rs 42 crore has been provided to Regional Rural Banks (RRBs) for financing medium and long term projects and Rs 18 crore for production credit requirements of farmers for cultivation of crops to RRBs.
The farmers are provided short-term credit for the production of crops by the Public sector banks, Cooperatives and RRBs at concession rate of interest at the rate of 7 per cent per annum.
Government of India provides 2 per cent interest subvention on crop loans up to Rs 3 lakhs on prompt repayment, Sukhdeva said.
Interest subvention to cooperative banks and RBs and farmers is routed through NABARD, he said, adding for the year 2009-10, Rs 32.40 lakh has been released to RRBs towards interest subvention.
To increase the productivity and production and for creation of awareness among farming community, NABARD initiated farmer centered programmes like farmers’ club, development of seed village, training for farmers, exposure visits within and outside the state to see the agricultural development, 300 farmers’ clubs formed by the banks and Kissan Vikas Kendras (KVKs) have been supported by NABARD, he said.
NABARD implements Government of India (GoI) schemes such as Dairy Entrepreneurship Development Scheme (DEDS), Integrated Development of Small Ruminants and Rabbits (IDSRR), Marketing Infrastructure (MI), Rural Godown and Cold Storage schemes in the state and providing capital subsidy, Sukhdeva said.
Under DEDS about 4,000 animals with a cost of Rs 10 crore and subsidy of Rs 3 crore have been provided to the farmers in rural areas of J&K during 2010-11, he said, adding under IDSRR scheme NABARD has provided training to 287 farmers for rearing of goats and sheep.
NABARD supports for upgrading the skills for creating employment opportunities to rural youth under farm and non farm activities in association with Non Governmental Organisations (NGOs) and government departments, Sukhdeve said.
Lastupdate on : Fri, 8 Apr 2011 21:30:00 Makkah time
Lastupdate on : Fri, 8 Apr 2011 18:30:00 GMT
Lastupdate on : Sat, 9 Apr 2011 00:00:00 IST
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