The Hindu Business Line : Nabard sees 31% rise in priority sector lending in Gujarat

THE National Bank for Agriculture and Rural Development (Nabard) has projected the credit potential for the priority sector in Gujarat at Rs 12,644.5 crore for 2005-06, up 31 per cent over the current year's figure of Rs 9,636 crore.

Out of the total amount, Rs 7,513 crore is projected to flow into the State as crop loans, Rs 2,007 as agriculture term loan and Rs 1,414 as non-farm sector funding by different banks and co-operatives during 2005-06.

Releasing the `State Focus Paper' for Gujarat prepared by the development finance institution, senior Nabard officials said on Thursday that the actual disbursement during the current year was likely to exceed the target.

"As per the latest reports available with us, till the end of November, more than 80 per cent of the target had already been achieved. With four more months to go in the financial year, we hope to end the year with an impressive growth," said the Nabard Chief General Manager (Gujarat), Mr Bhawar Puri.

Nabard is working with commercial banks, regional rural banks and co-operative banks in the State to double agriculture credit in three years in line with the policy announced by the Central Government in June 2004, Mr Puri said.

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