Minister for agriculture Dr. Chumben Murry on Friday said Agriculture was the main source of livelihood for over 80% of the population and 60% of the workforce. Considering the mammoth dependence on agriculture, he emphasized that financing under agriculture and allied sectors would be crucial for acceleration of growth of agricultural sector to achieve the desired GDP level.
He was speaking at the State Credit Seminar for 2010-11 organised by Nagaland regional office of National Bank for Agriculture and Rural Development (NABARD) at Hotel Saramati in Dimapur.
He mentioned that the State had huge potentials for agriculture and allied sectors and that state credit seminar organized by NABARD provided the stakeholders of development a unique platform for credit planning and identification of critical infrastructural gaps. He also lauded the various interventions of NABARD for development of the Agriculture & Allied sector as well as rural non- farm sector for overall economic development of rural people.
A. K Mathur, Chief General Manager, NANARD, Head Office, Mumbai presided over the Seminar.
State Focus Paper (SFP) for the year 2010-11 prepared by NABARD was presented and discussed at length. The SFP estimated a credit projection of Rs. 262.03 crores for the year 2010-11 under various priority sectors for financing by banks in Nagaland on the basis of Potential linked Credit Plans (PLPs) prepared by NABARD for the year 2010-11 in respect of all the 11 districts of the State.
A. K Mathur mentioned the importance of state focus paper in identification of exploited for overall economic development of the State through finance from banks and infrastructure support from State government. He elaborated on the different sectors like agriculture productivity, net irrigated area, capital formation in agriculture sector where focused attention is required.
Senior officials including H. K. Khulu (IAS), Agriculture Production Commissioner; Thangi Mannen (IAS), Commissioner Secretary, Animal Husbandry, Veterinary & Sericulture Departments; B. Thawang, Secretary, Irrigation & Flood Control Department and Zhaleo Rio, Secretary, Fisheries Department attended the Seminar. Other officials from Agriculture and allied sector departments of Nagaland, Convener of State Level Bankers Committee (SLBC), senior officials of Commercial Banks, Nagaland State Cooperative Bank, Nagaland Rural Bank and representative of Krishi Vigyan Kendra (KVK) also participated in the Seminar.
H.K. Khulu, APC mentioned that proper credit linkage was essential for proper development of State. He expressed his concern on declining trend of Credit Deposit (C/D) Ratio of the State. He also stressed on the coordinated efforts of the banks, State government and other extension agencies for achieving the credit target of the State.
Commissioner Secretary Thangi Mannen stated the importance of Animal Husbandry activities and requested the banks to extend finance to this sector. She also expressed her concern on the non-commencement of Venture capital Incentive Scheme of Govt. of India for poultry and dairy development in Nagaland.
Zhaleo Rio, Secretary stated that fishery sector could provide employment opportunity to a large number of rural youth as well as the nutrient food to the common people. He mentioned the initiatives taken by his Department for development of community fisheries.
K C Panda, General Manager, NABARD, Nagaland Regional Office provided an overview of the credit planning exercise and NABARD’s role in directing the banks, State Govt. and development agencies in providing focused attention to potential sectors for further exploitation. He said that of the Rs 262.03 crore projected in SFP, crop loan share stood at Rs 23.99 crore, agricultural and allied sector term loan (capital formative investment credit) at Rs 88.68 crore, non-farm sector (NFS) at Rs 58.79 crore and other priority sector at Rs 94.58 crore.
S C Sen, AGM, SBI, RO stated that SFP would facilitate SLBC in credit planning and the initiative taken by SLBC for opening of bank branches in unbanked blocks. I.S. Pongener, Chairmen, Nagaland Rural Bank elaborated on performance and thrust areas of NRB for financing under priority sector. M K Mandal, Deputy General Manager, NABARD, Nagaland Regional Office presented sector-wise analysis of the credit projection made in the SFP and detailed discussion took place after the presentation.