NABARD pegs Rs 21,922 cr credit flow for J&K in 2017-18
The National Bank for Agriculture and Rural Development (NABARD) has projected credit flow of over Rs 21,922 crore under priority sector in Jammu and Kashmir for 2017-18, nearly 22 per cent higher than last year's estimates. "Keeping in view the priorities of the state and the central government and the RBI, overall focus of inclusive growth and capital formation in agriculture the credit projections under priority sector for 2017-18 have been kept at Rs 21,922 crore," NABARD Chief General Manager, J&K, Vijay Kumar said today.
Finance Minister Haseeb Drabu flanked by Kumar today released the 'State Focus Paper' on Jammu and Kashmir at a function here today.
Kumar further said that the credit projections for the priority sector includes crop loan of Rs 4,955 crore, agriculture and allied term credit of Rs 3,541 crore. Similarly, the assessment of the credit for MSME and other priority sector has been Rs 7,900 crore and Rs 5,526 crore respectively.
The projection has shown an increase of 21.90 per cent over the previous year's estimates at Rs 18,058.50 crore.
Kumar said that the State Focus Paper, which gives holistic perspective for planned rural development of the state with credit being major driving force, has "doubling of farmers' income by 2022" as its theme.