ITANAGAR, Jan 13: The ‘State Focus Paper 2021-22’, prepared by the National Bank for Agriculture and Rural Development (NABARD), was launched by Chief Secretary Naresh Kumar in the State Credit Seminar held at the DK Convention Centre here today.
“Priority sector advances in Arunachal Pradesh have the potential to grow by more than 10% from the potential estimated for the current year,” the State Focus Paper says.
“The exploitable credit potential for priority sector in the State for the financial year 2021-22 is estimated at Rs 784.59 core as against Rs 712.5 crore during 2020-21,” it adds.
The document underscores that the realization of these exploitable potentials assessed, requires support from various development agents, like Government in the form of creation of enabling policy changes, like land reforms, infrastructure development, technology support, extension services, research and development, etc.
However, most importantly, the bankers need to be proactive in providing credit support to farmers and entrepreneurs for capital formation as well as working capital requirements.
The activity-wise credit potentials estimated by NABARD form the basis for preparation of Annual Credit Plans at district level and State level. Normally SLBC completes the credit plan preparation and allocation to various banks by March-end, so that the targets are available to various banks in the beginning of the next financial year.
While releasing the State Focus Paper, the Chief Secretary said that banking is crucial for development and suggested RBI and SLBC (State Level Bankers Committee) to open full-fledged offices in Arunachal Pradesh and assured support from State Government in this regard.
He highlighted the need for evolving cluster based approach for development of bank credit, and advised more banks to open Rural Self Employment Training Institutes in the State for enhancing skill of rural youth.
Expressing concern of low level of credit linkage for SHGs, he advised SLBC and ArSRLM to chalk out plans for financing economic activities for atleast 1000 SHGs during the current year.
While noting that NABARD is a very active and progressive developmental partner of the State Govt in Arunachal Pradesh for long, the CS advised all stakeholders like banks and other agencies to come forward and take positive steps towards acceleration of credit supply in the State.
Earlier, NABARD General Manager Dr Gopa Kumaran Nair highlighted the importance of credit in development of resource scarce states like Arunachal Pradesh. He urged Govt organisations, financial institutions and other change agents to dovetail their developmental agenda for enhanced credit flow in the State. He informed that aligning with GoI’s thrust, NABARD in Arunachal will nurture and promote FPOs in the State, initially in 3 districts.
Commissioner, Planning and Agricultural Production Commissioner, Prashant Lokhande appreciated NABARD for its developmental efforts alongwith State Govt in various fronts. He highlighted the importance of forward linkages for the farming community in the state. He hoped that the credit seminar would help the Govt identify areas for credit flow in the State.
D K Mahato, RM, SBI and Nabin Khakhlary, AGM, RBI also spoke and shared their views. S S Vaseeharan, DGM, NABARD presented highlights of the State Focus Paper especially on exploitable credit potential for the State.
Secretaries of various Govt departments, officials from line departments, representatives from different banks, Krishi Vigyan Kendras and NGOs, alongwith progressive farmers and entrepreneurs participated in the seminar.