NABARD Projects Credit Potential of Rs 34,082 crore Under Priority Sector for J&K

The NABARD credit seminar was inaugurated by Additional Chief Secretary, Agriculture Production Department, Atal Dulloo in the presence of Regional Director, RBI, Kamal P Patnaik.

The spokesperson stated that potential linked credit estimates for various sub-sectors of the priority sector were presented during the seminar, including Rs 18,732 crore for agriculture (Rs 17,312 crore in farm credit, Rs 467 crore for agriculture infrastructure, Rs 676 crore for food and agro-processing) and Rs 11,167 crore for the MSME segment 2023-24

In his keynote address, Dulloo praised the approach used to finalize the UT focus paper. He emphasized the issues identified for the development of the J&K economy and urged all stakeholders to work together to realize the credit potential outlined in the UT Focus Paper for 2023-24.

He also praised NABARD's 41-year contribution to the nation and J&K for facilitating credit flow to agriculture and allied sectors, infrastructure financing, and various development interventions to bring prosperity to rural areas. Dulloo also emphasized the importance of public, administrative, and financial institutions working together to overcome obstacles to UT's growth.

He advised bankers to trust the borrowers in order to increase agricultural credit flow and kick-start agricultural growth through capital assistance NABARD Chief General Manager Ajay Kumar Sood elaborated on some specific initiatives being undertaken for the Union Territory's inclusive development.

Improving agriculture credit through credit planning, monitoring and coordination with various stakeholders, promoting Farmer Produce Organizations and farmer collectives, and maximizing the potential of horticulture crops such as walnut, saffron, and apple through area expansion and productivity improvement were among these.