The National Bank for Agriculture and Rural Development (Nabard) chairman,Umesh Chandra Sarangi, on Thursday gave Orissa a surprise by announcing a 30% hike for agriculture and allied sectors in the credit plan for 2009-10.
Nabard had prepared a credit plan of Rs 9959.22 crore for the state, with a provision of Rs 5,033 crore for agriculture and allied sectors. However, Sarangi announced a hike of 30% in the credit provision for agriculture and allied sectors.
Following the announcement of the chairman, who hails from Orissa, the credit plan was pegged at Rs 11,500 crore, with an increased provision of Rs 6,673 crore for agriculture and allied sectors.
Sarangi, who was here on Thursday to grace the state credit seminar, directed Nabard officials to work out the break up of the total credit for its activities in the state.
A Nabard communiqu? said the state office is now working out the revised credit plan.
Nabard, according to the earlier plan, was supposed to provide Rs 5,033 crore credit to agriculture and allied sectors. Out of the amount, Rs 3874.11 crore was earmarked for crop production activities, while Rs 1159.59 crore was to be provided as term loan to agriculture and allied sectors. The bank was to disburse Rs 961.98 crore and Rs 101.33 crore for non-farm activities and the agriculture & food processing sector, respectively. Other priority sectors were to get credit of Rs 3,862 crore.
The plan was unveiled at a seminar organised here on Thursday. Chief minister Naveen Patnaik released the State Focus Paper prepared by Nabard. The paper presents a comprehensive picture of exploitable potentials available for various sectors/ activities.
Patnaik told those at the seminar that Nabard had played a commendable role in the development of Orissa’s rural infrastructure during the last 25 years.
State finance minister Prafulla Chandra Ghadei, chief secretary Ajit Kumar Tripathy, and development commissioner TK Mishra also spoke on the occasion.