NABARD readies ₹34,490-cr credit scheme to boost agri, other priority sectors: Sukhu

A credit potential scheme of ₹34,490 crore has been prepared by NABARD for agriculture, Micro, Small and Medium Enterprises (MSMEs) and other priority sectors in 2024-25, Himachal chief minister Sukhvinder Singh Sukhu said on Wednesday.

The scheme’s allocation is 8% higher than the current fiscal, he added. Inaugurating the state credit seminar for the financial year 2024-25 organised by the National Bank for Agriculture and Rural Development (NABARD), he said the bank has a major role to play in making Himachal self-reliant.

“I urge banks to extend their active support in providing loans for proper implementation of schemes so that farmers, horticulturists and youth can avail maximum benefits of these schemes.

“As per a Reserve Bank of India (RBI) report, none of the districts of the state falls in the category of ‘credit deficient’ districts. Although the credit flow in these districts is normal, the loan-to-deposit ratio of the state is 36.39%,” the chief minister said in a statement issued here.

He also expressed concern over the “loan to deposit ratio” in Bilaspur, Hamirpur, Kangra, Mandi, Una, Lahaul-Spiti and Chamba is consistently less than 40%.

With the aim of socio-economic upliftment of the people, the state government has launched Mukhya Mantri Swablamban Yojana, Mission for Integrated Development of Horticulture, Mukhya Mantri Laghu Shopkeeper Kalyan Yojana, Mukhya Mantri Green Cover Mission, Mukhya Mantri Rojgar Sankalp Seva, Mukhya Mantri Vidyarthi Yojana besides start-ups and other schemes, Sukhu said.

“Climate change affected Himachal as well, but to cope with these conditions, the state government has taken many steps. Green Industry and e-vehicles are being encouraged in the state in a big way so that dependence on fossil fuels can be reduced,” he noted.

The state government will also commence schemes to strengthen the rural economy, and efforts are afoot to promote natural farming, he added.