In order to give an impetus to the sluggish growth rate of agriculture in Punjab (currently 1.1 per cent), the National Bank for Agriculture and Rural Development (Nabard) has suggested a credit plan of Rs 41,664 crore under priority sector lending during 2008-09. | |
| In a State Credit Seminar organised by NABARD in Chandigarh today, Punjab & Haryana Regional Office Chief General Manager V Ramakrishana Rao put forward the sector-specific issues to realise the aforesaid credit potential estimates. |
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| Punjab Chief Secretary Ramesh Inder Singh was the chief guest on the occasion and released the State Focus Paper for the year 2008-09. |
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| Of the Rs 41,664 crore, crop loan shares 53 per cent (Rs 22,298 crore), followed by agricultural and allied sector term loan (capital formative investment credit) at 11 per cent (Rs 4,584 crore), non farm sector (NFS) at 15 per cent (Rs 6,095 crore) and other priority sector at 21 per cent (Rs 8,685 crore). |
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| The paper focused on the current concerns of the state on the agricultural front "" deteriorating soil health, dwindling groundwater table and the need for crop diversification, agro-processing, and modernisation of agri marketing infrastructure. Further, the paper dealt with the state's potential on renewable sources of energy that can be harnessed through credit. |
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| Issues of rural non-farm sector and micro credit were also discussed in detail to ensure that the fruits of ongoing retail revolution reach the small and marginal farmers. Punjab & Haryana RO of NABARD has contemplated to create a network with the help of participatory organisations like PRIs, NGOs, farmers' clubs, SHGs, etc. |
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| This would help the farmers to pool their land and other resources, reap advantage of scale and gain access to corporate retail outlets with enough produce in hand, and hence good bargaining power. |
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