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NABARD unveils credit plan for the year 2008-09

— Photo: Ashoke Chakrabarty

Orissa Chief Secretary Ajit Kumar Tripathi (second from right) flanked by M.N.Rao (extreme left), Chief General Manager, State Bank of India, S.A. Kareem, Chief General Manager of NABARD and R.N. Bohidar, Additional Chief Secretary, at the Orissa State Focus Paper 2008-2009 releasing function by NABARD in Bhubaneswar on Tuesday.

BHUBANESWAR: With focus on agriculture, minor irrigation, non-farm sector and fisheries, National Bank for Agriculture and Rural Development (NABARD) launched its credit plan for Orissa with an outlay of Rs. 8,944 crores for 2008-09 fiscal here on Tuesday.

Inaugurating the State-level credit plan seminar, Chief Secretary Ajit Kumar Tripathy said NABARD had been a major development partner in the State with over Rs. 1,280 crore of annual final assistance apart from various promotion programme in non-farm sector, institution development and micro finance.

Mr. Tripathy said the State achieved the target of doubling agricultural credit within two years against the goal of three years.

“We are marching ahead in paddy procurement. Orissa is contributing significantly to the central pool. Our State civil supply corporations are matching with Food Corporation of India in paddy procurement from the State,” the Chief Secretary said.

NABARD Chief General Manager Abdul Kareem said the credit plan focused on improving credit flow in the State by giving thrust to potential areas such as minor irrigation, fisheries, horticulture, rural non-farm sector and micro finance.

Bankers should take notice of potential while preparing service area plans and government officials should also plan for sustainable infrastructure support for optimal credit off takes, Mr. Kareem said. NABARD projected credit flow in agriculture and allied activities at Rs. 44.92.72 while non-farm sector got a share of Rs. 815.93 crores. Similarly, the projection in agro and food processing sector had been fixed at Rs. 86.02 crores.

The projection indicate 14.76 per cent increase in crop loans, 15.81 per cent increase in agricultural term loan investments, 15.02 per cent for total agricultural loans and 15.66 per cent increase for total priority sector loans over annual credit plan of 2007-08. Innovative products suiting to different segments of rural society needed to be developed.

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