NABARD formulates Rs 4,180 cr credit plans for J&K

JAMMU: National Bank for Agriculture and Rural Development ( NABARD) has formulated potential-linked credit plans ( PLCPs) worth Rs 4,180 crore to give a boost to the agriculture sector in Jammu and Kashmir in 2012-13.

"The credit potential under the priority sector, estimated at Rs 4,180 crore, is the aggregation of potential-linked credit plans (PLCPs) prepared by NABARD for all districts for 2012-13 in Jammu and Kashmir," NABARD's J&K Regional Office Chief General Manager S C Rabra said while delivering the welcome address at the State Credit Seminar for 2012-13 here today.

He stated that the credit potential of the agriculture sector has been assessed at Rs 1,074 crore, while it is pegged at Rs 974 crore for the rural non-farm sector and Rs 2,132 crore for other priority sectors.

These plans shall provide a base for preparation of annual credit plans by banks for the year 2012-13, Rabra said.

Rabra also highlighted the salient features of the recently announced handloom weavers package by the government of India and informed that implementation of the package will help improve the socio-economic status of weavers in the state.