Nabard pegs Faridkot credit potential at Rs 4,363 crore

Tribune News Service

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Faridkot, December 15

The National Bank for Agriculture and Rural Development (NABARD) has pegged Faridkot’s credit potential at Rs 4,363.85 crore under Potential-Linked Credit Plan (PLP) for 2019-2020 here.

This credit plan projections is 5.36 per cent more than the current fiscal.

Under different targets for different priority sectors for 2019-2020, agricultural term loan credit (investment credit) potential, which supports capital formation, has been projected at Rs 3,481.42 crore. The credit projections for micro small and medium enterprise sector, export credit, education, housing and renewable energy are estimated at Rs 633 crore, Rs 13.12 crore, Rs 48.26 crore, Rs 132.37 crore and Rs 11.83 crore, respectively. For social infrastructure (education, sanitation etc) and other priority sectors, the credit projects are Rs 21.91 crore and Rs 21.93 crore, respectively.

The crop loan includes Rs 1,263.27 crore for term loan for agri-allied activities.

While releasing PLP here on Saturday, Paramjit Kaur, Additional Deputy Commissioner (ADC), Faridkot, asked the bankers and the government department to work in coordination to achieve the credit target prepared by NABARD for 2019-20. She assured them of providing full cooperation in making the credit plan a success.

Narendra Kumar, District Development Manager, NABARD, said the plan for 2019-20 was prepared on the basis of the statistics and by adopting a participative and consultative approach involving all stakeholders in agriculture.

Capital formation in agriculture is absolutely necessary to make the agriculture sustainable. Hence, the term investment in agriculture and allied sector need to be enhanced simultaneously, along with the investment in crop loan, to make the agriculture sustainable. Therefore, this year the theme of the PLP is accelerating the pace of capital formation in agriculture and allied sector, said the ADC.