NABARD fixes Rs 82,023 crore credit potential for Punjab in FY13

CHANDIGARH: The National Bank for Agriculture and Rural Development ( NABARD) today projected Punjab's credit potential at Rs 82,023.32 crore for 2012-13, up by 20 per cent over the previous fiscal.

After releasing the 'State Focus Paper' for Punjab, NABARD, Chief General Manager Krishan Jindal said out of the total priority sector projections of Rs 82,023.32 crore, major share is of crop loan at Rs 40,818 crore, followed by agricultural and allied sector term loan at Rs 10,858 crore, and other priority sector at Rs 17,393 crore.

The share of agriculture and allied sectors in total credit potential is 63 per cent whereas the share of non-farm sector and other priority sector is 63 per cent.

Speaking on this occasion, Punjab Financial Secretary (Cooperation), Suresh Kumar emphasised on evolving effective and supportive mechanism so as to encourage capital formation in farm sector to boost economy.