NABARD releases focus paper-2016-17 for JK

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Feb 28: Minister of State in PMO, Dr Jitendra Singh released “State Focus Paper-2016-17” of National Bank of Agriculture & Rural Development (NABARD) for Jammu and Kashmir at a day-long seminar organized by the bank here today.

The Union Minister who was the Chief Guest on the occasion also released three brochures of NABARD and honoured some Self Help Groups (SHGs) and Joint Liability Groups (JLGs) operating in the State for exhibiting excellent performance during the year 2015-16.

Adviser to Governor Khurshid Ahmed Ganai was the guest of honour on the occasion, an official statement said.

Dr Singh said that the document would serve a useful purpose of realistic credit planning by the banks for the balanced growth of various sectors of Jammu and Kashmir’s economy.

The document identifies the infrastructural requirements in all the districts across the State and will help the State Government in preparing the developmental plans accordingly, he said.

Ganai on the occasion appreciated the NABARD for this effort in bringing out this precise document.

He highlighted the low credit ratio in the State, especially in Jammu region and called for taking corrective measures to improve it.

Chief General Manager, NABARD, Shanker A. Pande explained the vision document in detail and its far-reaching benefits.

Based on the district-wise credit estimates in PLPs, the credit potential for the State as a whole for Priority Sector during 2016-17 has been estimated at Rs. 18,058.50 crore, which is an increase of around 32 per cent over the potentials assessed of Rs 13,683.31 crore for the year 2015-16, Pande informed.

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