The National Bank for Agriculture and Rural Development (Nabard) has projected a credit potential of Rs 49,960 crore for farm and non-farm sectors in Andhra Pradesh for the ensuing financial year 2009-10. This is a growth of 17.7 per cent over the current year, said Nabard chairman Umesh Chandra Sarangi.
Addressing a state credit seminar here, Sarangi observed that the investment credit, which helps in private capital formation in agriculture, did not grow commensurately.
“Credit flow from bankers to value addition sectors like post-harvest management and processing of agri-based products need to be stepped up. Bankers need to support additional credit of Rs 5,500 crore over and above the credit plan of Rs 49,960 crore,” he said.
Sarangi said Nabard was looking forward for collaboration in technological upgradation of agriculture and creation of funds such as Farmers Technology Transfer Fund.
“Natural resource management is a major thrust for Nabard. A huge programme of watershed development to benefit 480,000 hectare has already begun and Nabard has committed Rs 350 crore for the purpose,” he added.
