NABARD projects Rs 89,049 crore of credit potential for Haryana

CHANDIGARH: National Bank for Agriculture and Rural Development (NABARD) has projected credit potential of Haryana at Rs 89,049 crore for 2015-16, which is 14 per cent more than the plan estimated for 2014-15.

Under the state credit plan, NABARD has estimated crop loan at Rs 45,210 crore which contributes 51 per cent of the priority sector credit estimates.

The agricultural term loan credit potential, which supports capital formation, has been projected at Rs 15,198 crore, Micro Small Enterprise Sector at Rs 14,733 crore and Other priority sectors at Rs 13,908 crore.

Overall, the credit potential for agriculture and allied activities at Rs 60,408 crore account for 68 per cent of the total potential sector, said NABARD official.

On this occasion, Haryana Chief Minister Manohar Lal Khattar released a 'State Focus Paper-2015-16', a comprehensive document containing the sector-wise potential and credit projections, critical infrastructure required in the state.

The Chief Minister on this occasion said that he had no doubt in achieving the state level projections of Rs 89,049 crore made for the year 2015-16 for the state.

Khattar urged banks and government departments to work together to translate the potential plan prepared by NABARD into a reality for the betterment of the state.

D V Deshpande, NABARD's Chief General Manager stated that NABARD would be extending financial support of about Rs 8,250 crore in the state in the current year.

The priority areas such as Polyhouses for protected cultivation of vegetables and fruits, warehousing infrastructure, creation of more knowledge infrastructure like Centre for Excellence / labs were laid out as way forward for taking Haryana state ahead, he said.

The cumulative support to Haryana under Rural Infrastructure Development Fund (RIDF) by NABARD has reached to Rs 3,179 crore.

Haryana Cooperation Minister Bikram Singh Yadav said the state government is trying to strengthen Cooperative banks so that credit needs of farmers can be met through these banks easily.