The Hindu Business Line : Nabard sets Rs 3,570-cr target for agriculture in Bengal

Industry & Economy - Rural Development
Agri-Biz & Commodities - Agricultural Institutions

Nabard sets Rs 3,570-cr target for agriculture in Bengal

Our Bureau

Kolkata , Aug. 18

NATIONAL Bank for Agriculture and Rural Development (Nabard) has estimated a potential of nearly Rs 8,000 crore for ground-level credit flow in West Bengal for the current fiscal.

A target of Rs 3,570 crore has been set for financing in agriculture for the year. As on June 30, the amount stood at Rs 655 crore.

These figures may be seen in the backdrop of the 2004-05 Budget, which declared that farm credit should be doubled over the next three years. Accordingly a target of Rs 2,440 crore was fixed for fiscal 2005. Against this, the banks in the State disbursed over Rs 1,960 crore (excluding tea finance to the tune of about Rs 1,540 crore).

The issues, indicated Ms Ranjana Kumar, Chairperson of Nabard, were discussed earlier at the state-level credit forum. The estimate was on the basis of potential-linked credit plans worked out at the district level, she noted.

For 2004-05, Nabard had recorded re-finance assistance of roughly Rs 720 crore-plus in the State - of this, Rs 470 crore or so was on account of long-term commitments. A big chunk of it was released for non-farm sectors, followed by plantation and horticulture industries.

The FI's recent activities span schemes such as cold storages and godowns, organic farming, water management projects etc. It is, inter alia, promoting what has been termed as DRIP - District Rural Industries Project - in seven districts, including Malda, Hoogly and Bankura.

Ms Kumar said that Nabard has been generally trying to secure support from non-government organisations, and West Bengal has not been an exception. For the record, over 100 such organisations have participated in `Self-Help Groups (SHG) Bank Linkage programme' in the State.

It may be mentioned here that Nabard will continue to promote SHGs at tea gardens and joint forest management areas this year as well. Elsewhere, it has worked out area development plans with regard to pineapple, gladiolus and ornamental fish breeding.

The FI has disbursed Rs 63 crore under its rural infrastructure development fund during 2005-06 in West Bengal.

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