Nabard to help boost medicinal crops

Speaking at the state-level meet on medicinal and aromatic crops at resource centre in Bangalore of the Central Institute for Medicinal and Aromatic Plants (CIMAP) , B B Mohanty, chief general manager, Nabard said, it is evolving cost-benefit models, preparing state-wise directory of manufacturers, traders and exporters, establishing linkages with stakeholders and sensitising financial institutions.

"Farmers, by taking up end-to-end approach through proper documentation on production, processing and marketing activities can ensure easy flow of institutional credit," he added.

According to Nabard estimates, about 61,000 acres have been brought under MACs through credit-linked subsidy scheme being implemented by the National Medicinal Plant Board (NMPB) from 2002-03 to 2004-05. In all, Rs 52.22 crore of subsidy had been sanctioned under 2024 schemes in 25 states.

The total credit support to MACs is estimated at Rs 300 crore (Rs 100 crore reported plus Rs 200 crore under crop loan) during 2004-05. This includes a refinance support of Rs 74.66 crore provided by Nabard.

Nabard has recognised horticulture as a diversification of agriculture in an eco-friendly manner through efficient land use, and optimum utilisation of natural resources.

"Multifaceted programmes were taken up for promotion and development of horticulture include promotion of fruits, vegetables, spices, coconut, cashew, cocoa, floriculture, root and tubers, medicinal and aromatic plants, mushrooms, bee-keeping and use of plastics in agriculture in the state," said Mohanty.

The meet was attended by bankers, NGOs and farmers who deliberated on the prospects for commercial cultivation of the crops in Karnataka.

According to Khanuja, director, CIMAP, Lucknow, for the sector to thrive, there should be a focussed approach for improving the entire supply and value chain, to attract more people to invest in the field, he added.