NABARD’s new plan aims to revolutionise agro-based economy

Source: The Hitavada      Date: 01 Jan 2019 13:36:29


By Piyush Shrivastava,

The National Bank of Agriculture and Rural Development (NABARD) has come up with an effective plan to boost the agro-based economy in the region. On the basis of research about potential bank loan and credit from rural sector in the district, the plan with assessment amounting to Rs 4707.11 crore for the year 2019-20 has been launched.

If compared with the previous years’ targeted potential for rural demand, this year, the projected amount shows rise of 18.46%. Checking different derivatives based on rural infrastructure, the potential under various sectors include crop loans Rs 1587.16 crore, investment credit for agriculture at Rs 522.11 crore, Agriculture Infrastructure and Ancillary Activities Rs 360.10 crore, MSME Rs 1,382.88 crore and other priority sectors Rs 855.86 crore.

According to the guidelines issued by the Reserve Bank of India and NABARD, the Potential Credit Plan for the district has been prepared. According to the information, the PCLP is a document being prepared by the NABARD since last four decades, giving a blueprint of rural development covering different aspects of physical and economical growth.

In present document, special emphasis on the Micro, Small Medium Enterprises (MSMEs) has been given by assessing the demand of Rs 1,382.88 crore. The Government of India has prioritised MSME sector, especially in rural areas, to raise farmers’ income by promoting entrepreneurship and enterprising sector. As per wish of Prime Minister, Narendra Modi to double farmers income by 2022, the preparations of the second green revolution in agriculture in days ahead is necessary.

It may be mentioned that, in Jabalpur district, out of around 308 branches of different banks, around 276 are commercial branches, 17 branches are of regional rural banks (RRBs) and 15 branches are of district cooperative banks. While there are constraints and challenges before the banks in pursing the plan due to inadequate extension activities in the district, shortage of good quality seed, fertilizer and increasing NPA in banks are jolting the banks. The documents would help State Government in planning and execution of development in varied sectors.

NABARD District Development Manager, Sandeep Dharkar added that, the document is a detailed study over need for growth in rural areas not only in farming but also in enterprise sector, employment, health, education or could be termed as whole infrastructure development. He added that, according to the Lead bank, the Central Bank of India, Jabalpur district has demand for Kisan Credit Card and the importance of crop loan could be assessed that major junk comes from these crop loans. The document would also help in fulfilling objectives of the Vision Document 2018 published covering infrastructure development with quality rural road connecting main roads, qualitative animal husbandry, new pond construction, quality nursery of different crops, post harvest facilities, marketing facilities for the cash or horticultural crops in the district.