CHANDIGARH: The Punjab regional office of NABARD on Tuesday organized the state credit seminar 2023-24. Harpal Singh Cheema, Finance Minister, Punjab attended the event as chief guest.
In his address, Cheema said that NABARD has suitably captured the constraints and potentials in the agriculture and rural development sector and advised the government departments and bankers to take leads from the state Focus Paper while formulating of policies and plans for the coming year.
The finance minister expressed hope that the potential identified by NABARD under the priority sector will further help in the growth of Punjab.
Raghunath B. CGM, NABARD, Punjab in his address elaborated on the State Focus Paper which was launched in the Seminar. The State Focus Paper has estimated that under the priority sector, the State has a credit potential of Rs 2.73 lakh crore for FY 2023-24 with the agriculture sector having a share of 1.56 lakh cr. He sought the support of Stakeholders in realizing this potential. Raghunath spoke on NABARD’s developmental role in the State. He elaborated on the support to Rural Financial Institutions as well as to the Government for the creation of rural infrastructure. Further, NABARD has also supported projects in the farm sector like crop diversification, reclamation of alkaline soil in Sangrur and Patiala, setting up of ‘Pashu Palak Tele Advisory Kendra‘, application of AI in livestock management, etc.
He also underlined the important role played by cooperatives in financing the agrarian economy of the State. He stated that implementation of the project on PACS Computerization will further strengthen service delivery to farmers, help in product diversification and enhance efficiency and transparency in the working of PACS.
Garima Singh, Secretary, of Finance, Punjab emphasised that all present stakeholders are equal partners in national building and should come together for the same. She congratulated NABARD for its contribution to the development of the State.
M K Mall, Regional Director, RBI, congratulated NABARD for bringing out a balanced State Focus Paper. Mall called upon the bankers and stakeholders to leverage the diaspora of Punjab for export growth in the State through the value addition of Agri products. He also requested the govt to the digitisation of land records for hassle-free credit availability to farmers.Source: Times of India