From Our Correspondent
Itagar, Feb 26: Aruchal Pradesh Deputy Chief Minister, Chow Mein released the State Focus Paper- 2017-18 prepared by BARD, regiol office Itagar here on Friday.
BARD has estimated Rs. 597.46 crore as credit potential for the year 2017-18, 67 percent of which is for crop loan and term loan for agriculture and 18 percent for MSME. The credit potential assessed for 2017-18 showed an increase of 12.5 percent as against Rs. 531.12 crore assessed for 2016-17. While speaking on the State Credit Semir organized by BARD, the deputy chief minister called for coordited action by the developmental departments, banks and NGOs to secure the prosperity of the rural masses, an official release informed here today. Stating that rural infrastructure is of utmost importance for the state, he emphasized on the role of institutiol credit assuming significance in capital formation in agriculture. He said that a roadmap to effectively implement the Pradhan Mantri Krishi Sinchayee Yoja (PMKSY) in the state is also being worked out.
He also informed that the state govt contemplate to evolve a new land policy which would eble the farmers to avail loan from the banking sectors while also saying that due to absent of appropriate land document, rural people of the state are not able to avail loans from various fincial institutions. Calling upon the bankers to exploit the potential identified for funding projects in the state, Mein requested the bankers to enhance loan amount under Kisaan Credit Card and to provide fincial assistance for setting up small scale processing units for the local market which would boost the rural employment. He also urged them to organize awareness campaigns in rural areas and also to provide better infrastructure facilities especially under irrigation and to focus on infrastructure for increasing productivity in agriculture sector, the release added.