The National Bank for Agriculture and Rural Development (NABARD) has put the quantum of loans that could be disbursed for agricultural operations in Thanjavur district during the financial year 2022-23 at ₹7,012.76 crores.
Stating that the estimation was done based on the scale of financing of crops and their likely area of cultivation during the next year, K. Balamurugan, the Assistant General Manager, NABARD, (DDM, Thanjavur) said in a press release that the bank had predicted a crop loan outgo of ₹4,740.73 crore and another ₹2,272. 03 crore towards promoting capital formation in agriculture and allied sectors during the next financial year.
The overall credit potential towards promoting capital formation includes avenues such as farm mechanisation, dairy farming, sheep/goat farming, poultry and others, he said and stressed the need to promote sustainable agriculture by encouraging rainwater harvesting structures, water-saving devices like drip and sprinkler systems etc.
Keeping in consideration, the Government’s intention to accelerate the growth of Micro, Small and Medium Enterprises sector a credit potential of ₹892.95 crore had been anticipated and another ₹1561.70 crore for other priority sectorsin Thanjavur district, he added.
Releasing the Potential Linked Credit Plan (PLP-2022-23) here on Wednesday, Collector Dinesh Ponraj Oliver has called upon the bankers to achieve the targets fixed by the Lead Bank through the annual credit plan (ACP) to be prepared based on the PLP of NABARD.
This would help rebuild the economic backlog caused due to the continuing COVID-19 pandemic situation by reaching out to the unreached rural pockets and downtrodden. He urged the bankers to disburse MSME, housing loans and others to the poor without any undue delay.
The Collector also stressed the need for a coordinated approach among bankers, government departments, research institutes, non-governmental organisations and farmers since agriculture and rural development were multi-disciplinary in nature.
