You are here: Home » PTI Stories » National » News
Business Standard

NABARD launches Rs 1,918 cr area development plan for Punjab

Press Trust of India  |  Chandigarh 

The (NABARD) today announced area development plans worth Rs 1,918 crore for to supplement farmers' income.

"We have prepared area development plans to the tune of Rs 1,918 crore only for Punjab," (Punjab), said at the (SLBC) meeting here.

"Under this plan, the activities like dairy, vegetable cultivation, bee keeping, mushroom growing will be promoted in order to provide income to farmers at sustainable basis," he said.

Earlier, addressing the gathering, Kumar raised concerns over the plummeting investment credit in Punjab, asking banks to focus on the area.

He blamed the lack of information among farmers and lack of coordination among government departments and banks for the decline in the investment credit growth.

"The investment credit growth in went down from 37 per cent in 2013-14 to 18 per cent in 2016-17 while the overall investment credit growth in has gone up from 25 to 35 per cent," he said.

"It indicates that banks in our state are not giving adequate attentions towards agriculture term lending. Around 32 per cent of the total agriculture lending should be for investment credit," he added.

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

First Published: Thu, February 15 2018. 23:15 IST
RECOMMENDED FOR YOU