Financial Daily from THE HINDU group of publications
Saturday, Jan 21, 2006
Financial Daily from THE HINDU group of publications Saturday, Jan 21, 2006 |
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Agri-Biz & Commodities
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Agricultural Institutions Industry & Economy - Rural Development Nabard projects Rs 32,574-cr credit potential for AP Our Bureau
Hyderabad , Jan. 20 THE State Focus Paper (SFP) for Andhra Pradesh prepared by the National Bank for Agriculture and Rural Development (Nabard) has projected a credit potential of Rs 32,574 crore for farm and non-farm sector activities for the next fiscal. This represents a growth of 10.7 per cent over the current fiscal's credit potential of Rs 29,423 crore. The State Chief Secretary, Mr T.K. Dewan, has released the SFP 2006-07 at a State Credit Seminar convened by Nabard at Dr Marri Chenna Reddy Human Resources Development Institute here on Friday. The seminar was organised to discuss the credit potentials assessed by Nabard and strategy that could be adopted tap the potential by the banking sector. The seminar was attended by senior officials of the State Government, senior executives from the RBI, State Level Bankers Committee, commercial banks, regional rural banks and co-operative banks. Addressing the seminar, the Nabard Chief General Manager, Mr V. Ramakrishna Rao, said the credit potential identified by Nabard would form the base for annual credit plans of banks as per the latest instructions of the RBI. According to Mr Rao, the SFP projects a credit potential of Rs 20,513 crore for agriculture and allied sector during 2006-07, of which Rs 16,390 crore was for crop production. Nearly 45 per cent of agriculture term credit has been estimated for minor irrigation, farm mechanisation and plantation horticulture sectors, while 21 per cent for dairy sector. The fisheries sector was estimated to require 14 per cent. The SFP has projected credit requirement of Rs 4,235 crore for rural artisans, cottage and village industries, while Rs 2,201 crore was projected for self-help groups. While expressing confidence that banks in the State would achieve the target on doubling of credit, Mr Rao appraised the forum of various initiatives currently being taken up by Nabard towards providing favourable environment for accelerating credit off-take.
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