Early Times Report
JAMMU, Jan 11: In a significant move towards fostering inclusive growth and rural development, the National Bank for Agriculture and Rural Development (NABARD) has projected an estimated credit potential of Rs 37,446.04 crore under the priority sector for the Union Territory (UT) of Jammu and Kashmir for the fiscal year 2024-25.
The announcement was made during the UT Credit Seminar hosted by NABARD on January 11, 2024, where the UT focus paper was unveiled. The event was graced by the presence of distinguished dignitaries, including Dr. Shahid Iqbal Choudhary, Administrative Secretary, Rural Development and Panchayati Raj, UT of J&K, Baldev Prakash, MD, J&K Bank, Dr. B.N. Tripathi, VC - SKAUST, Jammu, Sandeep Mittal, General Manager, RBI, Ajay Kumar Jha, General Manager, SBI, and other key officers.
Bhallamudi Sridhar, Chief General Manager (CGM), NABARD, Jammu & Kashmir, emphasized the pivotal role of NABARD in the development of Jammu and Kashmir. The focus will be on boosting Priority Sector credit through meticulous planning, credit delivery, monitoring, and collaboration with diverse stakeholders.
NABARD's special emphasis will be on community-based business entities such as Farmer Producer Organizations (FPOs), cooperatives, and SHG federations. The potential of horticulture crops, including Walnut, Saffron, and Apple, will be harnessed through area expansion and productivity improvement.
CGM, NABARD, presented issues, challenges, and the status of KCC disbursement across the 20 districts of UTs based on primary data collected from 5000 farmers in 175 blocks of 20 districts.
Smt. Anamika, General Manager, NABARD, Jammu & Kashmir, outlined trends in ground-level credit flow in the Priority Sector and highlighted the potential estimated by NABARD in 2024-25. She emphasized priorities for rural development in the coming fiscal year.
Dr. Shahid Iqbal Choudhary, Administrative Secretary, commended NABARD's approach in finalizing the UT's focus paper for 2024-25. He urged stakeholders to synergize their efforts for realizing the outlined credit potential.
The event also saw the ceremonial release of a compendium titled "NABARD's Intervention on the Field" and a booklet titled "Indicative Unit Cost for Investment in Agriculture and Allied Activities for 2023-24."
Sandeep Sharma, General Manager, NABARD, expressed gratitude, assuring that, with the support and cooperation of the UT Govt. and all stakeholders, NABARD will strive to achieve the targets highlighted by the chief guest. |
