Rs 36959 cr Nabard plan for priority sector of State

BHUBANESWAR: The National Bank for Agriculture and Rural Development (Nabard) on Tuesday released its State Focus Paper (SFP) 2014-15 highlighting an overall credit potential of Rs 36959.92 crore for priority sector in the State during 2014-15. The SFP was unveiled at State Credit Seminar (2014-15) organised by the bank here.

The SFP is broadly focused on ‘Revival, Reconstruction and Risk Mitigation’ to give focused attention to rehabilitation measures, reconstruction and mitigation of risk in the wake of the recent devastation brought by the twin natural calamities of cyclone and floods in the State.

The Ground Level Credit (GLC) flow for Agriculture (crop loan, term loan and allied agriculture taken together) which was Rs 1316 crore in 2003-04, has increased to Rs 10,454 crore in 2012-13. But in 2014-15, the credit potential in agriculture sector increased to Rs 19,193 crore.

According to Nabarad Chief General Manager SK Kale, the credit flow over the years has been showing an increasing trend which is an encouraging feature, but keeping in view the growth potential in agriculture sector in the State, the pace of credit flow need to be accelerated. Banks need to be geared up and come out with a strategy to improve the GLC flow to Agriculture Sector in particular, Kale added.

Kale also mentioned about the Nabard’s initiative to build 544 godowns in State, development of rural infrastructure, core banking, helping in crop loan disbursement, cooperating grassroots level organisations like SHGs and planning exercises to address natural calamities in the State. Besides agriculture credit support, the national bank offers helping hand to provide livelihood support for the farm family in the State, he added.

Gracing the seminar, State Finance Secretary UN Behera said the SFP would help the State Government in preparing the next budget. “We should be more ambitious about the target and the banks should increase the credit plan which will help the State,” Behera said.

Among others, the Reserve Bank of India (RBI) General Manager RLK Rao, State Bank of India (SBI) Chief General Manager KM Trivedi, Orissa University of Agriculture and Technology (OUAT) Vice Chancellor Prof Manoranjan Kar and senior bankers were present.