- Advertisement -
HomeNationalFarmers will now get more loans from NABARD, top priority for entrepreneurship...

Farmers will now get more loans from NABARD, top priority for entrepreneurship in agriculture

good news for farmers

Keeping in view the priorities of Madhya Pradesh Chief Minister Shivraj Singh Chouhan to increase the entrepreneurship of farmers in the agriculture sector, National Bank for Rural and Agriculture Development- NABARD has allocated 1 lakh 18 thousand 288 crore on crop loan and 62 on agricultural term loan for farmers in Madhya Pradesh. It is estimated that Rs 693 crore will be given.

For the year 2022-23, a total loan of 2 lakh 42 thousand 967 crore is estimated, out of which about 74 percent will be given to the agriculture sector. 39 thousand 267 crore under MSME and 22 thousand 715 crore loan will be available on other priority sector export credit, education, housing, renewable energy, other and social infrastructure.

Finance Minister Jagdish Deora while addressing the seminar said that the Government of India has increased the IIDF and Micro Irrigation Fund by Rs 10,000 crore and Rs 5 thousand crore for the development of rural infrastructure in its budget. Due to this the irrigation sector is getting more strength in Madhya Pradesh. He said that women empowerment and promotion of self-help groups (SHGs) of women is the main agenda of the state government. He appreciated the cooperation of NABARD in agricultural development and hoped that NABARD’s help would continue to be fulfilled in realizing the dreams of the Prime Minister and the Chief Minister.

Agriculture sector plays an important role in making self-reliant Madhya Pradesh

Minister Deora stressed on the need to increase KCC coverage to 100 percent farmers of the state, investment in rural infrastructure and efforts on funding of agricultural producer groups to make Madhya Pradesh self-reliant by the year 2023. He said that the agriculture sector maintained the rate of growth even in the COVID epidemic. This is the result of the hard work of the farmers.

In the seminar, various banks were rewarded in the mentioned activities for their excellent work in self-help groups, financial literacy, promotion of farmer producer groups etc. On this occasion, the booklet and State Focus Paper on Bankable Model Scheme on Onion Storage were also released.

Talking about the importance of value addition of agricultural products, TS Rajigen, Chief General Manager, NABARD said that special efforts would be made for this in 13 districts. He gave information regarding the assistance of Rs 4000 crore for rural storage run by NABARD, 10 thousand farmer product organizations, wadis, watershed, financial adjustment, help to cooperative banks, skill upgradation of members of self-help groups.

Also read- Dairy business is a profitable deal, if you do it in this special way, it will save time and increase earnings


Newsncr.com latest publishes news from the automobile, investment, real estate, technology, and related sectors. But in addition to that, we also cover lifestyle topics, like fashion, food, travel, and health. Along with all these, we also keep an eye on rising topics like cryptocurrency, startups, venture capital.
- Advertisement -
Must Read
- Advertisement -
Related News
- Advertisement -