JAMMU: Agriculture Minister, Ghulam Hassan Mir, Friday showed his concern regarding the credit deposit ratio of the banks in Jammu and Kashmir and asked them to provide credit to the farmers and entrepreneurs of the state who are in dire need of capital.
Mir, who was addressing participants from state Government, representatives from RBI, banks, agriculture universities and NGOs, after inaugurating state credit seminar, organized by National Bank for Agriculture and Rural Development (NABARD) regional office Jammu here on Friday, said despite remarkable encouragement in various parameters and efforts by bankers and sponsoring agencies, the CD Ratio in the state continues to hover around 35 percent to 36 percent.
RBI has set the 40 percent CD ratio for the banks in J&K with the deadline of March 31, 2013.
“The era of peace and stability has considerably improved investment climate in the state, amply showcased by enhanced credit flow figures”, the minister said.
Referring to agriculture sector, Mir said that credit flow to agriculture and allied sectors is one of the critical factors, which affect growth of the state’s economy.
He stressed for strengthening agriculture in the context of pre-dominant position of agrarian economy.
He said that state government is determined to provide conducive policy environment to fully support and encourage new farm sector investments in the agriculture sector.
Saying that NABARD is focusing on development of rural infrastructure for accelerating inclusive growth, Mir announced that improving the infrastructure facilities like connectivity of villages with all weather roads, drinking water supply, school buildings and toilet facilities, irrigation, supply of electricity to rural households and health services in the state are one of the top priorities of state government.
The minister, however, acknowledged that NABARD has been a major partner in development of rural infrastructure in the state and has extended support for 2864 infrastructure projects involving sanction of Rs 4338 crore, disbursing Rs 3387 crore to the state till date.
He said that taking into account the various features, NABARD has assessed total credit potential for current financial year at Rs 8221 crore envisaging growth of about 35 percent over the last year’s Annual Credit Plan of Rs 6097 crore.
Earlier, CGM, NABARD, SC Rabra, in his welcome address apprised the minister of the activities and achievements of the organization.
Samriti Bhagat proposed vote of thanks on the occasion.
Principal secretary to chief minister, BB Vyas, chief general manager, NABARAD, SC Robra; regional director, RBI, J&K Circle, Saraf; president, J&K Bank, OP Sharma; deputy general manager, VD Bohra and Manager NABARD, Sanjay Kumar were also present on the occasion.