NABARD conducts State Credit Seminar for 2020-21 with the Credit Potential of Rs. 230664.81 crore for Punjab State

Chandigarh sunita shastri: Shri TriptRajinder Singh Bajwa, Hon’ble Minister for Rural Development and Panchayats, Government of Punjab released the State Focus Paper for the year 2021-22 prepared by NABARD in the State Credit Seminar held in Chandigarh today. The Seminar was attended by senior Govt. officials, representatives of Reserve Bank of India, Senior bankers, Agriculture Universities, Research Institutions, NGOs, farmers and other stakeholders. NABARD has projected a credit flow of Rs.230664.81 crore during 2020-21 in the State of Punjab under Priority Sector Lending, as per the revised norms outlined by the Reserve Bank of India. Of the aggregate credit plan, the share of Crop Loan is pegged at Rs. 98211.12 crore (43% of total), Agriculture Term Loan at Rs. 23899.46 crore (10%), MSME at ₹42091.60 crore (18%), Agricultural Ancillary activities at Rs. 15002.60 crore (7%), and Agriculture Infrastructure at Rs. 6580.58 crore (3%).Shri J P S Bindra, Chief General Manager Punjab Regional Office of NABARD informed that the theme of the current State Focus Paper is “Hi-tech Agriculture”.Considering stagnation in agriculture productivity, depleting water tables, environmental concerns and paucity of labour, adoption of Hi-tech Agriculture by farmers would give them better returns and resolve these issues to a large extent, he opined. He indicated that to achieve objectives of farm and rural development, crop diversification, increasing crop productivity, reducing cost of cultivation, ensuring remunerative prices to farmers and supplementing their income through allied and off-farm sector activities would be the future strategies.
He also highlighted the new initiatives of NABARD in Punjab. NABARD has launched its flagship initiative, “E-Shakti” for digitisation of the Self Help Groups in 10 districts of Punjab. Advocating the need for collectivisation in farming sector, he detailed about the concept of Farmer Producer Organisations. 103 FPOs have been promoted by NABARD in Punjab. He called upon all stakeholders to make use of the State Focus Paper in preparing their action plan for 2020-21, so that there is all-round development in the agriculture and rural sectors of Punjab through bank credit and related services. Shri TriptRajinder Singh Bajwa, Hon’ble Minister for Rural Development and Panchayats, Government of Punjab, lauded the efforts of NABARD in preparation of such a structured and comprehensive document, which reflects the potential available under each sub sector of the State rural economy. He assured all possible support from the State Government for realization of the projected credit potential and targeted development. He advised banks to provide credit for capital intensive units like dairy, poultry, fisheries etc. and also for Agro-processing units to enhance farmer income with the objective to double the same by 2022. He emphasized the need of setting up of mini as well as commercial dairy units, piggery, poultry as well as small orchards in farmer’s filed to supplement their income. Shri Jyoti Kumar Pandey,Regional Director, Reserve Bank of India informed the house about the various steps taken by NABARD for financial inclusion and raising digital awareness. He advised the banks to achieve all the National goals of priority sector and promote Hi-Tech farming projects in the State.The forum deliberated on credit potential and infrastructural gaps identified in the State Focus Paper for 2020-21 and action points emanating from the State Credit Seminar were noted by stakeholders for initiating necessary follow – up action.