State Credit Plan at Rs 13,049 crore
AIMING AT the forthcoming State budget, the National Bank for Agriculture and Rural Development (NABARD) announced the State Credit Plan projecting the aggregate potential linked credit plan (PLP) of Rs 13049.25 crore for Madhya Pradesh for the 2007-08 financial year here on Tuesday.india Updated: Jan 10, 2007 01:20 IST
AIMING AT the forthcoming State budget, the National Bank for Agriculture and Rural Development (NABARD) announced the State Credit Plan projecting the aggregate potential linked credit plan (PLP) of Rs 13049.25 crore for Madhya Pradesh for the 2007-08 financial year here on Tuesday.
Inaugurating the State Credit Seminar organised by NABARD at the Academy of Administration, the Minister for Cooperation, Food & Civil Supplies and Consumer Protection, Gopal Bhargava said the increase in credit flow by the banks and making procedures easy have freed farmers from the clutches of rural moneylenders.
Showing concern over the increase in numbers of families under BPL in Madhya Pradesh, the minister said on one hand statistical data shows an increase in per capita income and productivity, and on the other hand the list of BPL families is getting longer.
“Its a misnomer, which indicates that false data are used while preparing the BPL list,” he quipped. Bhargava was quite candid in accepting that it was in the administrative machinery itself where lacunae lies and surveys are done using obsolete methodologies.
Mentioning that the State government and NABARD are complimentary to each other in the State’s progress, the minister said lot of scope lies in agriculture, horticulture and related activities, and there is a need to develop a social thinking, which would help in giving boost to the GDP growth rate.
“Often Madhya Pradesh is mentioned as a BIMARU state, which is again a misnomer, because farmers in the State do not commit suicide like in the developed states of Maharashtra and Andhra Pradesh,” Bhargava said.
He appreciated NABARD’s far-sightedness in preparing the PLP for the State, which helps in rural development. In his welcome address, NABARD chief general manager Ashok Mathur said though 70 per cent of the State’s population is engaged in farm sector, it contributes only 27 per cent to the State’s economic output.
“In comparison to high growth in industries & service, agriculture growth stands at 1.13 per cent, much less than the national growth of 2 per cent,” he added.
Emphasising on double digit GDP growth, he said agriculture growth must be at 4 per cent per annum. Outlining the purpose of holding the credit seminar, Mathur said the State Focus Paper 2007-08 has estimated a potential of Rs 13049.25 crore for the district-wise agriculture and allied activities in Madhya Pradesh and urged the banks and government departments to create enabling atmosphere for exploiting the potential.
NABARD released the State Focus Paper and State Sectoral Paper for Madhya Pradesh for the 2007-08 financial year. During the technical session, discussion was held on PLPs in different sectors and stress was laid on increasing acreage under cultivation.
The NABARD paper laid thrust on horticulture and food processing as the most potential areas of farm development vis-à-vis awareness & capacity building in extension programmes.
Concern was shown towards fast reducing extension functionaries, lack of communication & coordination among extension agencies in the State.
Proposals at a glance
1 Crop Loan 6723.78
2 Term loan (Agri & Allied) 2411.84
3Non-Farm Sector 1088.21
4Other Priority Sector 2747.62
Total Priority Sector 13049.25