TODAY -

Credit plan of NABARD released
Source: The Sangai Express

Imphal, February 11 2020: Chief Secretary Dr J Suresh Babu, released NABARD's annual credit plan known as State Focus Paper today, during the State Credit Seminar 2020-21, which was organised at Classic Grande today under the aegis of National Bank for Agriculture and Rural Development Manipur Regional Office.

Executive Summary of State Focus Paper in Manipuri, Value Chain Study of Mushroom Cultivation in Manipur and Agriculture Finance in Manipur : Issues and Way Forward, were also released during the event which was attended by General Manager, SBI Guwahati, Digmanu Gupta, General Manager RBI Imphal Mary Gwite, CAU Imphal VC Dr M Premjit Singh and General Manager NABARD Manipur RO DR KI Satyasai as presidium members.

Speaking at the event, Suresh Babu said that NABARD has identified credit potential of Rs 2376 crore under priority sectors for the year 2020-21 in Manipur and added that he will brief the stakeholders concerned regarding the same.

He said that the plan needs sincere implementation so as to create the intended impact and added that the Government agencies, banks and stakeholders must prepare strategies on implementation of the credit plan.

The Chief Secretary said that Manipur is a land filled with rich biodiversity and the suitable agro-climatic conditions, reasonably good rainfall and strategic location of the State for trade with Myanmar and South Asian countries are most suitable aspects to usher in rapid development.

Pointing out that the region has abundant resources and produces ample amount of agriculture and horticulture products, he said that in the tribal areas, scaling up 'wadi' programmes of NABARD in convergence with the State Government's programmes will boost horticulture.

Manipur is predominantly agriculture oriented.

As such, development of sustainable agriculture is the only way to bring rural prosperity to the State while inadequate flow of credit particularly under agriculture sector is one of the major impediments in development of agriculture in Manipur, the Chief Secretary opined.

Persisting jhum cultivation, lack of irrigation facility, unfavourable physical/geographical conditions and the land holding pattern keep the yield depressed, he said further adding that rain water harvesting during monsoon season will be beneficial in tackling drought like situations as well.

Lauding NABARD for choosing the theme of high tech agriculture for the State Credit Seminar, the Chief Secretary opined that to double the farmers' income, the focus needs to be shifted towards high tech agriculture with the Central Government initiatives for irrigation.

He explained that even with shrinking land, availability of proper technology will enable the State to produce more food grains, vegetables and fruits which can reduce dependency on other States.

Acknowledging NABARD for providing support for springshed development in Manipur in addition other activities like supporting the Government in creating various rural infrastructure projects, providing refinance to banks, supporting financial inclusion, promotion of SHGs, JLGs, farmers producers organisations, innovative projects in agriculture, orchard development in the State, the Chief Secretary expressed belief that NABARD will continue to play a pro-active role in the development of Manipur.


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