NABARD proposes higher credit plan for Odisha

Odisha Channel Bureau Bhubaneswar, Jan 30: National Bank for Agriculture and Rural Development (NABARD) presented the credit plan 2015-16 for Odisha in the State Credit Seminar organised here today.NABARD projected a credit plan outlay of Rs.47,756.43 crore for the priority sector in 2015-16, which is 19 per cent higher than credit plan projected for the year 2114-15.The proposed plan for agricultural loans was at Rs.26,226.48 crore.The State Focus Paper 2015-16 was presented in the seminar by NABARD mapping the realisable credit potential in agriculture and priority sectors for Odisha.The seminar was chaired by G.C.Pati, Chief Secretary, Government of Odisha.U.N.Behera, Additional Chief Secretary & Development Commissioner, Government of Odisha was the Guest of Honour on the occasion.The seminar was attended by R.Balakrishnan, Additional Chief Secretary, P.K.Jena, Regional Director Reserve Bank of India and dignitaries from all concerned Government departments, RBI, commercial banks, regional rural banks, cooperative banks and developmental institutions.S.K.Kale, Chief General Manager of NABARD in his opening remark in the seminar revealed that the plan document has been based on the theme `Accelerating the Pace of Capital Formation in Agriculture & Allied Sectors in Odisha’ to give focused attention to asset creation in agriculture. He elaborated that the public investments are required for infrastructure and services like irrigation structures, agri-input supply chain, post-harvest technological facilities etc.to motivate the farming community for more private investments.Banks are required to upscale term loan financing for the farming community for more private investment in host of on-farm and off-farm activities agriculture and allied activities in the State, he added.Speaking on the occasion, Pati applauded NABARD for various promotional initiatives in the state.He complemented NABARD for the excellent plan document making assessment of realisable sectoral potentials and for identification of sectoral interventions.He advised that State Level Bankers’ Committee (SLBC) may take this into consideration before finalising the credit plan for 2015-16.Addressing the seminar, Behera, advised the banks to extend the benefit of the promotional schemes of State Government to their farmer clients.He also emphasised on upscalling the credit absorption capacity of farming community and the rural sector.Balakrishnan viewed that rural areas with inadequate support system tend to drift away from agriculture which is a worrying trend and needs to be arrested with a long term vision.Jena congratulated NABARD for the Credit Plan.He suggested for realignment of service areas of the bank branches for better service by banks.He urged all the banks to identify and adopt one block in each district for 100% achievement of all parameters of the credit plans.The State Credit Plan projected an overall credit potential of Rs.47,756.43 crore for priority sector in the State during 2015-16.Within the priority sector the quantum of agricultural loans for the year 2015-16 has been estimated at Rs.26,226.48 crore.This includes credit for farm mechanisation to the tune of Rs.2,164.02 crore, Rs.661.29 crore for plantation and horticulture, Rs.1,766.41 crore in animal husbandry sector and Rs.688.29 crore for fishery sector.Considering the huge requirement of agricultural storage space in the State the potential credit requirement for storage and godown in 2015-16 is estimated at Rs.725.28 crore, according to an official release issued by NABARD.