Thiruvananthapuram, Jan 13 (FN Representative) NABARD has projected a Credit Potential of Rs 2.37 lakh crore under priority sector to be financed by all banks in Kerala for the financial year 2024-25. However, realization of the potential requires critical interventions in areas like Digitization of land records, Formation of cooperatives in processing, Marketing and also under Agro Industries sector, ensuring Soil Health Cards to all farmers, solutions for Man-animal conflicts, mechanization of dairy sector, avoiding delay in licensing and clearance for MSME projects, etc. The State Credit Seminar conducted by NABARD under the Chairmanship of Chief Secretary, Dr V Venu, IAS, was attended by related departments, bankers and other stakeholders held thread bear discussions on the constraints faced in achieving the potential and arrived at number of innovative solutions.
Agriculture sector constituted 52% of the total projection for priority sector. To boost the agriculture sector, NABARD suggested to improve the adoption of technology in agriculture, usage of drones, measures to tackle man-animal conflict, uniform leasing policy for water bodies, etc. Out of the total credit potential, MSME Sector constituted 30%. Besides the credit outlay in the priority sectors, the State Focus Paper also discusses structural issues for development, replicable practices, infrastructure gaps, success stories and action plan for bankers and Government Departments. In his inaugural address, the Chief Secretary lauded the role of NABARD in development of the State by extending timely credit to the rural financial institutions, financial support at lower rate of interest for creation of rural infrastructure and various other developmental interventions. He also thanked the banking fraternity for supplementing the efforts of the State Government in bringing about rural prosperity and development of the state. Emphasis was also laid on promotion of agri-business and value addition of agricultural products. A booklet titled “Enhancing the Millet” which is a compilation of all the activities undertaken by the NABARD Kerala Regional Office for the promotion of Millets was also released during the function.
Dr B Ashok, Kerala Agricultural Production Commissioner, delivered the special address during the seminar. He highlighted the importance of improving the investment credit in agriculture and thereby capital formation. He also mentioned about the projection assessed under sectors like Plantation & Horticulture, Cold storages and suggestions to have value addition in the agri and non- farm sector products. Concluding the speech he expressed the plan to have four exhibition centres in four zones in the State for the FPOs and OFPOs to show case their produces. He also expressed that these farmer groups should be given opportunities to participate in the National and International fairs. On the occassion more than 10 products of Kairali Farmer Producer Company supported by NABARD was also launched. The products include ayurvedic products, millet products, value added products. Earlier Dr Gopa Kumaran Nair, CGM, NABARD-Kerala, in his welcome address briefly broached various activities of NABARD towards providing short term and long term refinance to Cooperative banks and RRB.
Further, NABARD has made its mark in widening its overall developmental spectra in the state through support of Farmer Producer Organizations (FPOs), SHGs, Climate change mitigation measures, Tribal Development programme, Watershed Development programme, Soil conservation measures etc. He also touched upon the financial assistance under Rural Infrastructure Development Fund (RIDF) support to GoK and Institutional Development measures to the Cooperatives and RRB. He also briefed about the highlights of State Focus paper 2024-25. A booklet on KfW Soil projects titled” Fostering Climate Resilience” was released by Dr Cedric Lawrence, General Manager, RBI. A video documentation on success story of Micro Enterprises in bee keeping Kozhikode was released by S Premkumar, Convenor, SLBC during the occasion.