Chhattisgarh farm credit estimated at Rs 292.45 billion in FY19

Chhattisgarh farm credit has been estimated at Rs 292.45 billion during 2018-19.

The credit projections for total agriculture sector for 2018-19 is projected at Rs 177.81 billion, says the state focus paper (SFP) prepared by the National Bank for Agriculture and Rural Development (NABARD). Chhattisgarh Chief Minister Raman Singh released the paper on Tuesday.

Of the credit projections for the agriculture sector, an amount of Rs 57.99 billion (33 per cent) has been earmarked for capital formation in agriculture and allied activities including agri-infrastructure and ancillaries. An amount of Rs 119.81 billion has been assessed under crop production, maintenance and marketing. For the MSME sector, a potential of Rs 82.49 billion has been assessed for the financial year 2018-19.

The State Focus Paper (SFP) for the year 2018-19 had been themed at per drop more crop, MSME (Mudra and Skill India) and Climate Change in line with Govt. of India Initiatives.

The paper underlined that doubling of farmer’s income by 2022 is one of the most relevant, ambitious, but challenging interventions for bringing time bound income security for farmers. To achieve the goal, focus has been taken to increase the Capital formation in Agriculture Sector, strengthening of Dairy Sector in the State, implementation of Area development schemes and bankable projects, increase of farmers under KCC fold and JLG models.

Promotion of farmer’s produce organisations (FPOs) and their federation would help in increasing the farmers' income, the paper said, adding that digitalisation of land records will boost the confidence of all the stakeholders. The paper suggested promotion of micro irrigation system especially drip kit among the small and marginal farmers and to increase water use efficiency sprinkler irrigation and water conservation.