The Hindu : National : Banks asked to make farming profitable

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Sunday, Oct 07, 2007
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Banks asked to make farming profitable

Chandigarh: Haryana Governor A.R. Kidwai has called on the banks to play a pivotal role in making agriculture a profitable profession in the country.

Speaking at a two-day function, Workshop on Organic Agriculture, organised by the Reserve Bank of India, the Governor said that banks play a vital role in making India a lead country in industrialisation and software production.

He said the GDP of India had touched the 9.5 per cent mark after globalisation and if we maintain it at this level India would become a developed country in 2020 and one of three economic powers of the World by 2040.

He regretted that the contribution of agricultural sector in our economy which was 4 per cent earlier had gone down to 2 per cent which is a matter of great concern. “Unless this is enhanced to 4 to 5 per cent annually then only we can maintain balanced growth of our economy,” he said.

Mr. Kidwai said the low rate in agricultural sector was a challenge not only for the Government only but also for entrepreneurs, industrialists and banks.

He asked the banks to devise a method which would not only make India self-sufficient in food production but also export to other countries.

He said vegetables and fruits cultivation as well as processing and packaging industry requires great attention and manpower which India has in ample.

He said small farmers can be an asset in organic farming. -- PTI

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