STATE TIMES NEWS
Jammu: National Bank for Agriculture and Rural Development (NABARD) has prepared over Rs 18,000 crore Potential Linked Credit (PLC) Plans for all the districts in Jammu and Kashmir for 2016-17.
“NABARD has prepared Potential Linked Credit Plans for all the districts and assessed priority sector credit potential of Rs 18,058.50 crore for Jammu and Kashmir for 2016-17,” Chief General Manager (CGM), NABARD, J and K, Shanker A Pande told reporters here on Monday.
He said the strategy to enhance the credit support to priority sectors was discussed in State Credit Seminar 2016-17, inaugurated by Jitendra Singh, Minister of State for Development of North Eastern Region.
Banks are expected to gear up to disburse incremental loans to agriculture and priority sectors in the State during 2016-17 and NABARD would be willing to increase its refinance support manifold, he said.
On the implementation of government-sponsored subsidy schemes, he said NABARD sanctioned aggregate subsidy support of Rs 40.80 crore under various Government Sponsored Schemes during 2015-16.
“This covered assistance to farmers and entrepreneurs for the purposes such as dairy development, solar lighting, rural godowns, agri clinics, agri business centres, etc,” he said.
Regarding area development schemes for capital formation in agriculture, Pande said for bringing efficiency in production and enhancing the productivity, farmers need to make long-term investments.
“Asset creation and technological improvement in farming is also necessary for sustainable growth in agriculture which calls for adequate investment credit supply by banks,” he added.
