Live
- Ahsaas Channaopens up about her complex character in ‘Mismatched 3’
- Radhika Apte welcomes first child, shares heartfelt post
- Jacqueline dazzles at Da-Bangg Reloaded concert
- Time to boost measures to prevent drowning, save children: WHO
- TDP achieves milestone with 73 lakhs membership registration, says Chandrababu
- South Korea: Main Oppn hails Yoon's impeachment motion passage as 'victory for people, democracy'
- RG Kar issue: Tension flared over parallel protests by Congress, SUCI(C) outside CBI offices
- After furore, Central Railway revokes order to raze Lord Hanuman Temple at Dadar
- Now hoteliers' body in Bengal's Alipurduar shut doors for Bangladeshi tourists
- District Collector Encourages Students to Utilize Government Facilities for a Better Future
Nabard pegs priority sector credit at 59,831 crore for Telangana
The National Bank for Agriculture and Rural Development (NABARD) has prepared estimates for Rs. 59,831 crore for priority sector lending in Telangana State during 2016-17. It is 20 per cent higher than the allocation for the priority sector in the State’s current annual credit plan.
Hyderabad: The National Bank for Agriculture and Rural Development (NABARD) has prepared estimates for Rs. 59,831 crore for priority sector lending in Telangana State during 2016-17.
.jpg)
It is 20 per cent higher than the allocation for the priority sector in the State’s current annual credit plan. State Finance Minister E Rajendar released the State credit plan estimates, prepared by NABARD at a programme attended by State officials from all important departments here on Tuesday.
The plan showed Rs 30,435 crore will be given as crop loans, small term loans Rs. 13,009 crore for agriculture term loans, Rs. 8464 crore to micro, small and medium enterprises (MSMEs) sector and Rs. 7,923 crore will be earmarked to other priority sector lending.
Speaking on the occasion, the Minister said that agriculture have been given a top priority and it should be made remunerative by providing irrigation and proper marketing facilities. It was the responsibility of bankers and public financial institutions to be practical while lending the sector in terms of scale of finance, for construction of godowns, greenhouses and restoration of minor irrigation tanks.
Rajender urged the NABARD to provide sufficient funds for restoration of tanks and development of irrigation sector which played a key role in the state economy as well as the welfare of the farmers. To improve marketing facilities, State required huge number of godowns and also encourage agriculture-allied sectors to improve sustainability of farming. As State was already reeling under drought, he requested the bank to come to rescue of the farmers by offering them financial assistance to take up horticulture, dairy and poultry as an alternative to the traditional farming.
NABARD Chief General Manager of NABARD V V V Satyanarayana said the credit estimates have been prepared to help the distressed farming community in the State. Minor irrigation,mechanisation of agriculture and promotion of cold storages were also given importance in the credit plan. State Chief Secretary Rajiv Sharma, Spl Chief Secretary Pradeep Chandra and Principal Secretary C Parthasarathi were among the officials present in the meeting.
