NABARD estimates credit potential of Rs 35583.25 cr in J&K under priority sector for 2021-22

Jammu, Feb 2 (FN Bureau) National Bank for Agriculture and Rural Development (NABARD) has estimated a credit potential of Rs 35583.25 crore under priority sector for the Union Territory of Jammu and Kashmir for the year 2021-22. The UT focus paper was also launched on Tuesday in the Credit and Development Seminar wherein R K Srivastava, CGM, NABARD welcomed the participants and highlighted the contribution in J&K. Advisor to Lt Governor, UT of J&K Baseer Ahmad Khan inaugurated the seminar and in his address, he appreciated the approach adopted for finalization of UT focus paper. He also appreciated the issues identified for the development of the J&K economy.

The dignitaries deliberated various matters for a sustainable and inclusive development of the Union Territory including improving agriculture credit flow, FPOs as Farmers’ collectives, Marketing Assistance and GI registration. The speakers discussed strengthening Agriculture and Rural Infrastructure – Irrigation, Rural roads/bridges, mandies, promoting off farm sector-Strengthening of Dairy Collectives /FPO with value addition and Skill development of Rural Youth. The Seminar however, presented the potential linked credit estimates for various sub-sectors of Priority sector which include Rs 20697.23 crore for agriculture (Rs. 19090 crore in Farm credit, Rs 497.15 crore for Agriculture infrastructure, Rs. 733.06 crore for Food and agro processing etc), and Rs 10817.82 crore for MSME segment etc for year 2021-22. The theme of the UT focus paper was ‘Collectivization of Agriculture Produce’ for enhancing farmer’s income. A glimpse of NABARD initiatives in Jammu and Kashmir which reflected the impact of various projects/programmes implemented by NABARD was presented by Ms Anamika, DGM, NABARD.

The various products of NABARD supported Farmer Producer Organizations (FPOs) , Off-Farm Producer Organization (OFPO)and SHGs supported by NABARD were also demonstrated at the venue. Handlooms and handicrafts from NABARD supported Rural Marts in Kashmir, Honey and Walnut from Ramban, Mushroom from Kathua, Mushqbudji rice from Anantnag, SHG products from Samba etc. were displayed at the stalls. Prof Mushtaq Ahmad, Vice Chancellor, SKUAST-Kashmir, Dr J P Sharma Vice Chancellor, SKUAST-Jammu, Kamal P Patnaik, Regional Director, RBI, R K Chhibber, Convenor UTLBC/Chairman J&K Bank, Sheetal Nanda, Secretary Rural Development spoke on this occasion.