GUWAHATI, Feb 11 � In a bid to boost rural economy, the National Bank for Agriculture and Rural Development (NABARD) today released a �Focus Paper� projecting an amount of Rs 3,255.96 crore credit for the State. The bank has identified three core areas including agriculture and allied activities, non-farm , agro and food processing sectors in which credit projection has been enhanced for 2010-11. The Focus Paper has accorded top priority to the agriculture sector projecting a credit plan size of Rs 1,315.77 crore , Rs 514.24 crore for non-farm sector and an amount of Rs 47.77 crore credit has been mooted for food processing sector.
It also underscored the need for improvement of connectivity like inland waterways, cyber and telecom to woo investments.
�Banks operating in the State need to step up their lending to agriculture sector so that the State can reach the targeted growth rate,� the report said, adding that State Level Banker�s Committee (SLBC) should provide full data on credit flow for review of progress.
While releasing the Focus Paper at a meeting in Guwahati the State Industry Minister Pradyut Bcrdoloi hailed the initiatives taken by NABARD in the areas of micro credit, agriculture and rural development . He called upon the banks to enhance the credit flow in the State to boost the infrastructure.
� The thrust areas such as higher flow of credit to agriculture, financial inclusion and development of rural infrastructure will go a long way in bringing about prosperity in the rural areas of the State,� a senior official of NABARD told this correspondent on the sidelines of the meeting.
Under the Rural Infrastructure Development Fund (RIDF), NABARD had sanctioned Rs 1,465.02 crore ( till March 31, 2009). �If we want to improve our rural economy, the existing infrastructure should be upgraded,� he added.
The meeting was attended by senior officials of the State Government and the banks.