By Sandeep Pattnaik\r\n
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Bhubaneswar, 30 Jan’15: National Bank for Agriculture and Rural Development (NABARD) has presented the Credit Plan of Rs. 47,756.43 Crore for the priority sector for Odisha pertaining to the year 2015-16, which is almost 19 % higher than credit plan envisaged for 2014-15, a release of State Focus Paper 2015-16 said.
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Out of the total priority sector outlay pegged at Rs 47,756.43 crore, the quantum of agricultural lending for the year 2015-16 has been estimated at Rs.26,226.48 crore. This includes credit for Farm mechanization to the tune of Rs.2,164.02 crore, Rs. 661.29 crore for Plantation and Horticulture, Rs.1,766.41 crore in Animal Husbandry sector and Rs.688.29 crore for fishery sector. Considering the huge requirement of agricultural storage space in the State the potential credit requirement for storage and godown in 2015-16 is estimated at Rs.725.28 crore.
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Shri S. K. Kale, Chief General Manager of NABARD in his opening remark in the seminar revealed that the plan document has been based on the theme “Accelerating the Pace of Capital Formation in Agriculture & Allied Sectors in Odisha” to give focused attention to asset creation in agriculture. He elaborated that the public investments are required for infrastructure and services like irrigation structures, agri-input supply chain, post-harvest technological facilities etc. to motivate the farming community for more private investments. Banks are required to upscale term loan financing for the farming community for more private investment in host of on-farm and off-farm activities agriculture and allied activities in the State.
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Speaking on the occasion Shri G. C. Pati, Chief Secretary applauded NABARD for various promotional initiatives in the state. He complemented NABARD for the excellent plan document making assessment of realizable sectoral potentials and for identification of Sectoral interventions. He advised that State Level Bankers’ Committee (SLBC) may take this into consideration before finalizing the credit plan for 2015-16.
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Addressing the seminar, Shri U. N. Behera, Additional Chief Secretary & Development Commissioner advised banks to extend the benefit of the promotional schemes of State Govt. to their farmer clients. He also emphasized on upscalling the credit absorption capacity of farming community and the rural sector.
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“Rural areas with inadequate support system tend to drift away from agriculture which is a worrying trend and needs to be arrested with a long term vision,” Shri R. Balakrishnan,Additional Chief Secretary said in his address.
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Shri P. K. Jena, Regional Director Reserve Bank of India congratulated NABARD for the Credit Plan. He suggested for realignment of service areas of the bank branches for better service by banks. He urged all the banks to identify and adopt one block in each district for 100% achievement of all parameters of the credit plans.
