Chief Minister Oommen Chandy released the ‘State Credit Plan for XII Plan’ prepared by National Bank for Agriculture and Rural Development (Nabard).
The credit plan for financial year 2013-14 envisages a potential of Rs 83,472 crore.
FOCAL ISSUE
Chandy handed over a copy each to Finance Minister K. M. Mani and Agriculture Minister K.P. Mohanan at a function at the regional office of Nabard here on Tuesday.
The Finance Minister also released a CD on the State focus paper. The agriculture minister released brochures in Malayalam on the Central subsidy schemes and support to producer organisations.
The focus paper theme of ‘Development of rural Infrastructure for accelerating inclusive growth’ is in consonance with the development goals of the State, a Nabard spokesman said.
Top most priority for next five years will be self-sufficiency in fruits, vegetables, milk production and achieving total financial inclusion.
22% HIGHER
The credit projection of Rs 83,472 crore for the priority sector is 22 per cent higher than that of the previous year. Financial inclusion status and inclusive growth have been given special focus in the document.
The State Focus Paper also discusses sectoral issues for development, replicable practices, success stories and suggests action points for the State Government and bankers.
R. Amalorpavanathan, Chief General Manager, Nabard, urged bankers and Government officials to expedite rollout of direct cash transfer scheme by March 2014.
COOPERATIVE CREDIT
The government should initiate steps to increase production and productivity, promote value addition at the farm level.
The cooperative credit structure needs to be strengthened and policies evolved to enable leveraging of financial systems to promote development.
Earlier in his address, the Chief Minister said that the State Government would closely associate with Nabard implementing various schemes for rural infrastructure projects.
The Government is very keen to work out a strategy for the various suggestions/action points proposed by Nabard in the document.
ENTREPRENEUR MISSION
The Finance Minister highlighted various government initiatives, including promotion of high tech farming and establishment of rice and coconut bio parks in the State.
He sought help from banks and Nabard to promote entrepreneurship under the Kerala State Entrepreneurship Development Mission.
Banks and the government should coordinate each other’s efforts to ensure smooth implementation of direct benefit transfer scheme, he said and added that the banks should be able to view financial inclusion as a business opportunity rather than a social obligation.
vinson.kurian@thehindu.co.in