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Nabard estimates Rs.41,085 crore credit flow in Karnataka

Wednesday - Dec 22, 2010, 12:08pm (GMT+5.5)
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Bangalore - The National Bank for Agriculture and Rural Development (Nabard) Tuesday estimated that Karnataka has a credit flow potential of Rs.41,085 crore to the priority sector in the ensuing fiscal 2011-12.

In a focus paper released here at the annual credit seminar, Nabard chief general manager Venkatesh Tagat said 181,000 hectares of farm land in the distressed districts of the state were brought under the watershed programme.

"Fresh loans up to Rs.801 crore were disbursed this fiscal (2010-11) under the agricultural debt waiver and debt relief scheme to about 600,000 farmers across the state," Tagat said.

Banks have also waived interest amount to the tune of Rs.639 crore on farm loans during the fiscal under the prime minister's package for the distressed districts, which were affected by drought and floods since the last fiscal (2009-10).

"We have sanctioned Rs.6,000 crore during this fiscal till October as farm assistance under the centrally-sponsored rural infrastructure development fund to improve irrigation potential, recharge ground water, increase rural connectivity and storage capacity, marketing facility and childcare in rural areas," Tagat said.

Similarly, Rs.1,200 crore were sanctioned as loans to 115,000 self help groups (SHGs).

According to the focus paper, Nabard plans to promote about 20,000 SHGs across the state next fiscal and 130,000 SHGs will be credit-linked.

"The target for 2011-12 envisages promoting 25,000 SHGs and credit linking 250,000 of them," Tagat added.

In his address at the seminar, state chief secretary S.V. Ranganath said an agro business summit would be organised in the city in June 2011 to invite fresh investments in food-processing, hi-tech farming, horticulture and plant material to boost farm productivity.

"The state is setting three percent target in the agriculture sector in the ensuing fiscal, as the growth rate dipped to 1.5 percent in the last fiscal for various reasons," Ranganath said.


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