The Hindu : NABARD sees credit potential for agriculture

Online edition of India's National Newspaper
Thursday, Feb 12, 2004

Andhra Pradesh

Andhra Pradesh

NABARD sees credit potential for agriculture

By Our Special Correspondent

HYDERABAD, FEB. 11. The State Focus Paper (SFP) of National Bank for Agriculture and Rural Development (NABARD) has projected Rs. 22,538 crores credit potential in Andhra Pradesh for investment in agriculture, allied activities and other priority sector activities, in the year 2004-2005, which represents a 19.5 per cent growth over the potentials identified during the previous year.

According to a NABARD press release issued here, the State Focus Paper for 2004-2005 prepared by NABARD was released by M. Samuel, Principal Secretary, Panchayat Raj and Rural Development at the State Credit Seminar conducted here on Wednesday.

The SFP has projected a potential of Rs. 13,903 crores for agriculture and allied sector of which Rs. 11,006 crores has been estimated as potential for crop production. In addition, an amount of Rs. 3,511 crores has been projected for non-farm sector, Rs. 4,192 crores for other priority sector, and Rs. 932 crores for financing Self-Help-Groups (SHGs).

It said the credit flow estimates are prepared on the basis of Potential Linked Credit Plans (PLPs) for each of the 22 rural districts in the State prepared by NABARD annually.

Veena Ish, Secretary, Finance Department, observed that of the Rs. 70,810 crores ground level credit flow in the country during 2002-2003, Andhra Pradesh absorbed credit of Rs. 14,539 crores forming 20.5 per cent. However she voiced concern over the declining share of agriculture credit in the total portfolio, more so in agriculture term loans.

Printer friendly page
Send this article to Friends by E-Mail

Andhra Pradesh