Excelsior Correspondent
JAMMU, Jan 23: National Bank for Agriculture and Rural Development (NABARD) J&K Regional Office organised a State Credit seminar which was inaugurated by Minister for Housing, Horticulture and Culture Raman Bhalla, here today.
Commissioner/Secretary Agriculture Production A H Samoon, Chief General, NABARD Dr. B G Makhopadhyay, Director Industries and Commerce Gulzar Ahmed Qureshi, Registrar Cooperative Society Sudershan Sharma besides senior officers from Handloom, Sheep Husbandry, Industry, NABARD, SKUAST and representatives from various banks were present in the seminar.
In his inaugural address, Mr. Bhalla reiterated that credit flow to agriculture and allied sector is one of the critical factors which affect growth of the State economy and the State Government is determined to provide conducive policy environment which will fully support and encourage new farm sector investments in the agriculture sector.
Four per cent target for growth in agriculture which is critical for inclusive growth and food security must be achieved in the 12th Five Year Plan by increasing productivity for major crops by applying modern agronomic practices and better price discovery using post harvest management systems duly supported by institutional credit.
Acknowledging the long and fruitful partnership between State Government and NABARD for creation of various infrastructure facilities in the State, Mr. Bhalla reiterated that the RIDF support has enabled creation of 14,000 KMs rural roads, bringing additional one lakh ha under irrigation besides creation of other infrastructure. He further added that State Government has taken a note of the fact that under various sectors NABARD has identified some of the critical infrastructure requirements which may be taken up for development during 2014-15.
The Minister expressed his concern over low CD ratio which hovers around 37% and called upon all the bankers to fully meet the credit requirements of the farmers as well as other entrepreneurs to address this concern and support capital investment in the State.
Mr. Bhalla also released the State Focus Paper 2014-15 prepared by NABARD and Model Schemes for Apple Orchards.
Chief General Manager NABARD Dr. B G Mukhopadhyay highlighted that the State Focus paper identifies thrust areas and credit potentials for various sub-sectors and required infrastructure support for smooth and adequate credit flow in rural areas. In the State, NABARD has identified total credit potential under priority sector lending of Rs. 12377.45 crore which includes Rs. 2941.14 crore for crop production, maintenance and marketing, Rs. 1672.63 crore for investment credit for agriculture and allied activities, Rs. 2877.37 crore for micro small and medium enterprises and Rs. 4886.31 crore for other priority sector for financial year 2014-15.
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