Create Awareness of Capital Investment in Agriculture Sector: NABARD

In midst of farmer's protest across the nation against the new farm laws, National Bank for Agriculture and Rural Development (NABARD) on Thursday urged government departments in the State having a link with agriculture industry to create awareness among entrepreneurs and investors of investment opportunities available in the sector.

Speaking at the release of Potential Linked Plan (PLP) for Thanjavur district for the financial year 2021-22 by Collector M. Govinda Rao here, District Development Manager, NABARD, Thanjavur, K. Balamurugan said that considering the need to promote capital formation in agriculture and allied sectors, the bank had estimated an overall credit potential of Rs.1,170.88 crore.

Moreover, the DDM said it was important to create awareness of various investment opportunities in areas such as farm mechanisation, dairy farming, sheep/goat farming and poultry by the departments concerned to realise the credit potential. It was also important to promote sustainable agriculture by encouraging rainwater harvesting practices and use of water-saving devices such as sprinklers in agriculture/horticulture operations, he added.

Moreover, the bank had projected Rs. 4,594.20 crore considering the likely area of cultivation and scale of financing of crops. Thus, the bank had projected an overall credit outlay of Rs.5,765.08 crore for agriculture and allied sectors out of the total PLP of Rs. 9,027.44 crore for Thanjavur district.

On the other hand, the Collector pointed out that a coordinated approach of all stakeholders — bankers, government departments, research institutes, Krishi Vigyan Kendra, non-governmental organization's and farmers — had to be solicited to achieve the credit potential estimated in the PLP since agriculture and rural development were a multi-disciplinary subject.