NE BUSINESS BUREAU
GANDHINAGAR, MAR 18
Gujarat Chief Minister Vijay Rupani on Thursday unveiled NABARD’s State Credit Plan estimated a potential of Rs 2.25-lakh crore for the year 2021-22 in the Priority Sector which is 20 per cent higher over previous year’s Rs 1.87-lakh crore. Of the total credit potential for the priority sector, agriculture and allied sectors account for Rs 1.04-lakh crore, MSME sector Rs 97,091 crore and other priority sectors at Rs 23,542 crore.
Unveiling the ‘State Focus Paper’ for fiscal 2021-22 Rupani welcomed NABARD’s efforts for doubling of farmers’ income by 2022 and called for setting up 1,000 Farmers’ Producer Organisations (FPOs) in the State.
To give thrust to rural innovation and entrepreneurship in the agri-businesses, Rupani handed over the sanction letter to Sardar Krushinagar Dantiwada Agricultural University Vice-Chancellor Dr R N Chauhan to set up Rural Business Incubation Centre (RBIC) in Gujarat. This will be seventh in the country and first for Gujarat.
The centre is being set up with a total project outlay of Rs 10.31 crore of which, the NABARD grant assistance is Rs 7.81 crore over five years, during which it looks to support 140 new start-ups, of which 125 will be graduated and 102 new products or technologies commercialised.
The start-ups incubated at RBIC will be in the areas of agriculture and allied activities, off-farm sector activities among others specifically aimed at benefitting the rural communities.
Highlighting various initiatives of NABARD and policy-led reforms, the CM urged the bankers to work in tandem with the Central and state sponsored schemes to extend timely and hassle-free credit, in order to realise the PM’s dream of Atmanirbhar Bharat and Atmanirbhar Gujarat.
NABARD Gujarat Chief General Manager DK Mishra, in his opening remarks, highlighted the significant role played by bankers as frontline workers during the pandemic, by ensuring unhindered flow of credit and other financial services to the needy. Underscoring the resilience of agriculture sector, he noted that it is the only sector which posted positive growth during the pandemic period. Being the apex Development Financial Institution, NABARD has taken a slew of measures for augmenting the lendable resources of rural financial institutions, supporting rural livelihoods and ensuring food security by minimising the impact of supply chain disruptions.
He emphasised the role of collectivization of farming activities through the medium of FPOs for the upliftment of small and marginal farmers who constitute 85% of the farming community in the country and 68% in Gujarat. So far, NABARD has promoted 204 FPOs with 40000 farmers as members in the State. More FPOs are on the anvil with the announcement of the Central Sector Scheme for promotion of 10000 FPOs in the country, for which NABARD is one of three implementing agencies.
He appealed to the banks to ensure adequate credit flow as envisaged in the State Focus Paper, particularly for term loans in agriculture sector in the backdrop of the projections estimated at Rs 63,464.59 crore for crop loans and Rs 37,047.01 crore for agricultural term loans.
Addressing the seminar, RC Faldu, Agriculture Minister expressed his happiness over achievement of targets by banks of State Credit Plan of previous year. He urged upon the banks to make the processes simpler for availing credit and it should be easily accessible to farmers and rural households. He urged upon NABARD and banks to enhance financing for food processing sector and also emphasized the need for creation of small rural godowns. He stated that the State Government has kept the morale of farmers high by facilitating crop loans at zero interest as well as by supporting them during natural calamities.
S K Panigrahi, Regional Director, Reserve Bank of India also spoke on the occasion and urged upon the banks to make all out efforts to achieve the credit projections and sought their special attention to direct credit flow to credit deprived districts with low CD ratio.
Earlier, C Saraswathi, General Manager, NABARD made a detailed presentation on the credit potentials assessed for the year 2021-22, highlights of NABARD’s performance and the significance of the theme. BK Singhal, General Manager, NABARD proposed vote of thanks.
