Madhya Pradesh, News, Politics

Farmers will now get more loan from NABARD

Farmers will now get more loan from NA

November 25, 2021

Keeping in view the priorities of Chief Minister Shri Shivraj Singh Chouhan to increase the entrepreneurship of farmers in the agriculture sector, National Bank for Rural and Agriculture Development – NABARD has estimated to sanctioned Rs. 1 lakh 18 thousand 288 crore for farmers in Madhya Pradesh on crop loan and Rs 62 thousand 693 crore on agricultural term loan. For the year 2022-23, a total loan of 2 lakh 42 thousand 967 crore is estimated, out of which about 74 percent will be given to the agriculture sector. Under MSME, 39 thousand 267 crore loan will be available and Rs. 22 thousand 715 crore for other priority sectors including export credit, education, housing, renewable energy, other and social infrastructure. This information was given in the “State Debt Seminar 2022-23” organised by Madhya Pradesh Regional Office of NABARD under the Amrit Mahotsav of Independence at Hotel Courtyard Marriott here today.

Finance Minister Shri Jagdish Deora while addressing the seminar said that the Government of India has increased the IIDF and Micro Irrigation Fund by Rs.10 thousand crore and Rs.5 thousand crore in its budget for the development of rural infrastructure. Due to this the irrigation sector is getting more strength in Madhya Pradesh. He said that women empowerment and promotion of self help groups (SHGs) of women is the main agenda of the state government. He appreciated the cooperation of NABARD in agricultural development and expressed hope that NABARD would continue to help in realising the dreams of the Prime Minister and the Chief Minister.

To make Madhya Pradesh self-reliant by 2023, Minister Shri Deora stressed the need to increase KCC coverage to 100 percent farmers of the state, invest in rural infrastructure and make efforts for financing of agricultural producer groups. He said that the agriculture sector maintained the rate of growth even in the Covid pandemic. This is the result of the hard work of the farmers.

In the seminar, various banks were rewarded in the mentioned activities for their excellent works in self-help groups, financial literacy, promotion of farmer producer groups etc. A booklet and State Focus Paper on Bankable Model Scheme on Onion Storage were also released on the occasion.

Speaking about the importance of value addition of agricultural products, Chief General Manager of NABARD Smt. TS Rajigain said that special efforts would be made for this in 13 districts. She gave information about rural storage being run by NABARD, assistance of Rs 4000 crore for 10 thousand farmer produce organisations, wells, watersheds, financial adjustment, help to cooperative banks, skill upgradation of members of self-help groups.

Earlier, in the presence of Finance Minister Shri Jagdish Deora, Chief General Manager, NABARD, Smt. TS Rajigain, flagged off a mobile vehicle carrying chemical free pure spices and organic products of Kutir Agri Producer Company Limited of Athner in Betul district.

The seminar was mainly attended by Additional Chief Secretary Animal Husbandry Shri JN Kansotiya, Principal Secretary Finance Shri Manoj Govil, Agriculture Production Commissioner Shri Shailendra Singh, Chief General Manager of State Bank of India Shri Umesh Kumar Pandey, Field General Manager of Central Bank of India and SLBC Convenor Shri SD Mahurkar, Commissioner Institutional Finance Directorate Shri Bhaskar Lakshkar and officials of major banks of the state attended.

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