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NABARD projects credit potential 17% higher than the previous year for Assam

Atul Bora, Assam Minister of Agriculture, Horticulture and Food Processing, inaugurated the State Credit Seminar and released the State Focus paper 2020 prepared by NABARD. The Minister expressed his concern that credit to agriculture is on a decline as per data published by State Level Bankers Committee and NABARD.

, ET Bureau|
Last Updated: Feb 17, 2020, 08.24 PM IST
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NABARD
Minister urged upon RBI, NABARD, SLBC, and banks to work in tandem for improving institutional finance to this vital sector of economy in an agrarian state like Assam.
Guwahati: National Bank for Agriculture and Rural Development (NABARD) projects credit potential of Rs 27989.04 crore for the state of Assam for the year 2020-21 which was 17% higher than the previous year.

Of the total projected credit potential, share of Agriculture and Allied Activities is around 61%. The theme of the State Focus Paper 2020-21 was “High Tech Agriculture Practices”.

Atul Bora, Assam Minister of Agriculture, Horticulture and Food Processing, inaugurated the State Credit Seminar and released the State Focus paper 2020 prepared by NABARD. The Minister expressed his concern that credit to agriculture is on a decline as per data published by State Level Bankers Committee and NABARD.

Minister urged upon RBI, NABARD, SLBC, and banks to work in tandem for improving institutional finance to this vital sector of economy in an agrarian state like Assam.

S. S. Saha, Chief General Manager, NABARD, Assam Regional Office reiterated that NABARD is working towards achieving the twin goal of Doubling the Farmers’ Income by 2022 and High Tech Agricultural Practices.

Saha said that the Government of Assam has been continuously working to improve the rural infrastructure in the state to enhance both the credit absorption capacity and credit demand in rural Assam. The State Focus Paper has critically examined the level of infrastructural development in the State and has highlighted the sector-wise infrastructural gaps for fast remedy.

Saha shared that NABARD’s perception on the development perspective of the state was based on need for enhanced Gross Capital Formation in Agriculture, Productivity and credit to agriculture, Implementation of Kisan Credit Card Scheme, Pradhan Mantri Fasal Bima Yojana (PMFBY), Digitisation of SHGs through E-Shakti Project, mitigation of adverse effect of Climate Change, consolidation of Farmers’ Producers’ Organizations and MSME sectors.

Rajiv Kr. Bora, Assam’s Additional Chief Secretary (Finance) urged banks to be farmer friendly and step up financing of agriculture and allied sector so as to exploit the credit potential projected by NABARD in its State Focus Paper 2020.
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