NABARD projects Rs 3,499 cr credit disbursement for Goa in 2013-14

NABARD has projected disbursement of Rs 3,499 crore in Goa for 2013-14 financial year which is 24 per cent higher than the previous year, a senior official said on Tuesday.

"It has been assessed that bank credit of Rs 3,499 crore can be disbursed in Goa during 2013-14 for priority sector which is 24 per cent higher than the previous year," NABARD General Manager S D Kulkarni told a gathering of bankers in Panaji.

"As against the projections of total priority sector advances of Rs 2,815.01 crore for 2012-13, the same have been increased to Rs 3,499.12 crore for 2013-14, depicting an increase of 24.30 per cent," Kulkarni said.

The projections include Rs 317.81 crore under crop loan, Rs 347.17 crore under agri term loan, Rs 533.75 crore under Micro Small and Medium Enterprises (MSME) and Rs 2,300.39 crore under other priority sectors. He said the National Bank for Agriculture and Rural Development (NABARD) has sanctioned Rs 195 crore to government of Goa for financing rural infrastructure projects during the current fiscal. "An amount of Rs 70 crore has been released till February 22, 2013 and it is expected to touch Rs 100 crore by March 31, 2013," Kulkarni added. The institution has also initiated a special project for improving the production and productivity of paddy cultivation through System of Rice Intensification (SRI), which is being implemented in three clusters in South Goa.