Nabard allots Rs 18,427 cr for Haryana

The National Bank for Agriculture and Rural Development (Nabard) has projected Rs 18,427 crore for institutional credit flow in agriculture & allied sectors in Haryana for 2006-07.

Highlighting this at the state credit seminar for Haryana for 2006-07 ,Chief General Manager of the bank, A Ramanathan, said as per the Potential Linked Plans (PLPs), the lending was expected to increase from Rs 10874.71 crore(2005-06) to Rs 112828.46 crore (2006-07).

"With agriculture contining to be the backbone of the Haryana economy the credit flow for this sector is expected to increase to Rs 10112.76 crore in 2006-07," said Ramanathan.

Also, he added that in view of vast employment opportunities in rural non-farm sector, the ground level credit flow is envisaged to increase from Rs 1776.06 crore (2004-05) to Rs 2793.17 crore.

The seminar was inaugrated by Meenaxi Anand Chaudhary, IAS,Chief Secretary, Govt of Haryana. She emphasised on the need to lay thrust on diversification of agriculture, allied activities and rural non farm sector in view of the rising unemployment in rural areas which in turn is the fallout of fragmented land holdings.

A State Focus Paper on institutional credit prepared by NABARD for 2006-07 was presented and discussed in the seminar.