National Bank for Agriculture and Rural Development (NABARD) has projected credit potential of Haryana at Rs89,049 crore for 2015-16, which is 14 per cent more than the plan estimated for 2014-15. Under the state credit plan, NABARD has estimated crop loan at Rs 45,210 crore which contributes 51 percent of the priority sector credit estimates.
NABARD on Wednesday organized the state credit seminar 2015-16 for Haryana at Hotel Shivalikview here. On the occasion, Haryana Chief Minister Manohar lal released the ‘State Focus Paper-2015-16’, a comprehensive document containing the sector-wise potential and credit projections, critical infrastructure required in the state.
The agricultural term loan credit potential, which supports capital formation, has been projected at Rs 15,198 crore, Micro Small Enterprise Sector at Rs 14,733 crore and Other priority sectors at Rs 13,908 crore. Overall, the credit potential for agriculture and allied activities at Rs 60,408 crore account for 68 per cent of the total potential sector.
While addressing the state credit seminar, the Chief Minister urged the Centre to increase the capital of Cooperative Banks in the state so that these institutions could provide maximum financial assistance to the farmers. He added that the state government has provided an assistance of Rs 100 crore to the land Development Banks of Haryana.
The Chief Minister also asked the NABARD to simplify its loan scheme by imposing minimum terms and condition. This, he said would not only facilitate the farmers in getting loans but also encourage them to repay the same as without recovery, it was not easy to run these financial institutions, he added. He also urged the banks and government departments to work together to translate the potential plan prepared by NABARD into reality for the betterment of state.
While describing agriculture and rural development as the backbone of the state’s economy, he said that efforts were being made by the state government to increase the income of farmers. He said that the state government has decided to develop all villages in the state as Adarsh villages. Speaking on this occasion, Minister of State for Cooperation Bikram Sing Yadav said that efforts were being made by the state government to strengthen cooperatives banks so that credit needs of the farmer could be met through these banks easily.
Chief General Manager, NABARD, Dr DV Deshpande said that NABARD would be extending financial support of about Rs 8250 crores in Haryana in the current year. The priority areas such as polyhouses for protected cultivation of vegetables and fruits, warehousing infrastructure, creation of more knowledge infrastructure like Centre of Excellence, labs were laid out as way forward for taking Haryana ahead. The cumulative support to the State Government under Rural Infrastructural Development Fund (RIDF) by NABARD has reached to 3179 crores, he added.