Deputy Chief Minister, Chowna Mein released the State Focus Paper- 2017-18 prepared by the NABARD, Arunachal Pradesh RO, Itanagar at Banquet Hall here on Friday.
NABARD has estimated Rs. 597.46 crore as credit potential for the year 2017-18, 67% of which is for crop loan and term loan for agriculture and 18 % for MSME. The credit potential assessed for 2017-18 showed an increase of 12.5% as against Rs. 531.12 crore assessed for 2016-17.
While speaking on the State Credit Seminar organized by NABARD, Deputy Chief Minister called for coordinated action by the developmental departments, banks and NGOs to secure the prosperity of the rural masses. He stated that the rural infrastructure assumes crucial importance for the state and emphasize on the role of institutional credit assuming significance in capital formation in agriculture.
He said that to realize the national goal of double income by the farmers by 2022 as envisaged by the Prime Minister Narendra Modi, state govt is giving top priority to the agriculture and allied sectors in the coming budget and a roadmap to effectively implement the Pradhan Mantri Krishi Sinchayee Yojana (PMKSY) in the state is also being work out.
He also informed that the state govt contemplate to evolve a new land policy which would enable the farmers to avail loan from the banking sectors while saying that due to absent of appropriate land document, rural people of the state are not able to avail loans from various financial institutions.
While calling upon the bankers to exploit the potential identified for funding projects in the state, Mein requested the bankers to enhance loan amount under Kisan Credit Card and to provide financial assistance for setting up small scale processing units for the local market which will boost the rural employment. He also urged them to organize awareness campaigns in rural areas.
While lauding the NABARD for providing good support under RIDF to the state for creation of Rural Infrastructure facilities like rural connectivity, flood protection, Rural Drinking Water Supply system, storm water drain, hydro power generation and school projects, he further urged them to provide better infrastructure facilities especially under irrigation and to focus on infrastructure for increasing productivity in agriculture sector.
He also appreciated the NABARD for its efforts to identify credit potential and infrastructure requirements in the state and expressed hope that the State Focus Paper will help the State Govt and banks in working out a concrete action plan for effective implementation of the proposed State Credit Plan for 2017-18.
Chairman of Arunachal Pradesh Agriculture Marketing Board, Ngurang Pinch in his speech urged the financial institutions to play a proactive role in improving capital flow to the farm sector. He requested the bankers to simplify the procedures for obtaining rural credit and to consider the authentication of land ownership by the village level headman or any other designated authorized body or institution. He also urged the State Cooperative Apex and Rural Banks to extend their branch networks to the rural areas and to mobilize the rural people for savings and other banking operations which would immensely benefit the farming community.
He also called for effective implementation of the Kisan Credit Card Scheme to assist the small and marginal farmers to avail short term crop loans and expressed hope that the NABARD would play a lead role in the entire process of rural farm credit.
S. Sankaranarayanan, GM, NABARD in his introductory speech explained the process of credit planning by NABARD from District level to State Level and relevance of the seminar. He emphasised on the need to increase credit flow in the state and investment in agriculture and rural infrastructure. He stated that NABARD has sanctioned Rs. 255 crore to the State Government for creation of rural infrastructure under RIDF for 21 projects for Rural connectivity, flood protection, storm water drain, drinking water and education. Cumulatively, NABARD has sanctioned Rs. 1463 crore to the state for 158 projects in the state. He briefed the participants about the developmental inititatives being taken by NABARD like Farmers’ Clubs, assistance for setting up Rural Marts and for improving financial inclusion.
Binod Kumar, DGM, NABARD made a presentation to highlights the state focus paper. NABARD has estimated a total credit potential of Rs. 579.46 crore which can be financed by the banks in the state during 2017-18 under priority sector. While Rs.399.76 core i.e. two third of the total projection is estimated for Agriculture sector, the projections included Rs 108.29 crore under MSME, Rs.80.39 cr under OPS and Rs.9 cr under micro credit.
He explained that the projection of the credit potential and areas to be focussed has been made keeping in view the national goal of “Doubling the Farmer’s Income by 2022”. He also highlighted promotional role of NABARD in the state in the field of support to farmers club, wadi, rural Haat and Mart, SHG formation, financial literacy and computerisation of RRB and Cooperative Bank.
Dr. A.K.Pandey, Dean, College of Horticulture and Forestry Pasighat, made a presentation on the theme “Doubling the Farmer’s Income by 2022” and shared his views on how to icrease the income of the farmers in the state specially by using new and efficient farm technologies. While K.C. Behera, Regional Manager of Agriculture Insurance Corporation of India explained the process and benefit of Pradhan Mantri Fasal Beema Yojana. DGM, SBI and DGM, RBI also spoke on the occasion.
It is pertinent to inform that NABARD prepares detailed credit plan estimates in all districts mapping the credit potential and the estimates are aggregated at the state level and is presented at the state credit seminar every year by NABARD.
Senior government officers, banks, academic institutions and NGOs participated in the seminar.