NABARD to provide loan of Rs 1,53,106 cr

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NABARD to provide loan of Rs 1,53,106 cr

AgriNation News Network

Bhopal. 23 Feb 2018

 The NABARD will provide loans worth Rs 1,53,106 crore to the farmers of MP in the next financial year and this amount is 14 per cent higher compared to last financial year, said agriculture production commissioner P C Meena while addressing media persons here.

The state government has released ‘State Focus Paper’ containing the credit projection for 2018-19. The theme for the year is, ‘Per Drop More Crop’. He further said that centre has decided to project atleast 10 percent increase in the credit potential. The state has projected 14 percent increase.

He also appreciated the effort of NABARD in preparing a comprehensive document, which acts as a reference for banks and state governments for planning of the development activities. Earlier, speaking in the seminar, he asked the banks to increase lending for agriculture loans, food and agro processing activities, SHG and others.

He also asked the banks to provide loans under various schemes like Mukhyamantri Krishak Udhyami Yojna and Mukhyamantri Swarojgar Yojna. Reserve Bank of India state in-charge Manjula Rattan urged bankers to put their effort to exploit the credit potential in the state. Principal secretary Rajesh Rajora said that people should realise that the optimum use of water is the key to modern farming and a happy society.

“The mission of doubling the farmers income by 2022 is to be achieved through joint efforts of state government, banks and all other developmental agencies,” he added. NABARD chief general manager K R Rao spoke on details of projections indicated by NABARD. Out of total credit projection of Rs 1, 53,106 crore, about 77 percent of the amount will be given as a crop loan. The amount will be Rs 83,964 crore.

For the agriculture term loan, it will be Rs 25,544 crore. The projection under Micro Small and Medium Enterprise will be Rs 21678 crore. For export credit, education, housing, renewal energy and on other social infrastructure, Rs 13938 crore have been allocated.