Highest ever financial support of 12,491 crore in Punjab by NABARD

National Bank for Agriculture and Rural Development has provided,an all-time high, financial support of 12,491 crore in the State during financial year 2021-22. NABARD has been supporting the State Government for creation of rural infrastructure through various concessional funds like Rural Infrastructure Development Fund (RIDF), Micro Irrigation Fund (MIF), Warehousing Infrastructure Fund (WIF), etc and refinance support to Rural Financial Institutions by way of refinance for agriculture and rural development.

Chief General Manager, Dr. Rajiv Siwach said that during the year 2021-22, NABARD sanctioned an all-time highRIDFassistanceof  823 crorewith YoYgrowth of 46%. This includes63 rural drinking water projects, modernisation of Milk Processing Unit,drainage and warehousing projects.

Further, NABARD has maderecord disbursementof 765 crore with YoY growth of 28% in 2021-22.The implementation of these projects will provide potable drinking water to 15.15 lakh population across the State,processing of 2 lakh litre milk per day,3593 additional class rooms, reclamation of water logged area of 28672 ha and construction of 1.25 lakh MT of storage capacity.

CGM stated that NABARD extended refinance support of₹11,636 crore to State Cooperative Bank, DCCBs, Punjab Gramin Bank, Commercial Banks and other agencies for financing agriculture operations of farmers and rural enterprises.

NABARD released 7.29 crore for developmental activitiesin the State. With emphasis on diversification,Farmers’ Producer Organisations (FPOs)in fisheries and dairy sector formed.

Dr.Siwachsaid “Punjab is experiencing declining water table as 109 blocks out of 138 are placed in ‘over-exploited’ category,causing a severe water crisis in the ‘grain bowl of India”. To address the depleting ground water in the State, Micro Irrigation Fundhas been operationalised with sanction of ₹150 crore.NABARD has also taken initiatives for conservation of water resources through pilot project on Direct Seeding of Rice using “Tar-Wattar Technology”with PAU, Ludhiana.

The regions of Patiala and Sangrur districts are facing problem of soil alkalinity, a pilot project for reclamation of soil in an area of 1000 ha is under implementation in collaboration with CSSRI, Karnal. An ICT based PashuPalak Tele Advisory Kendra (PP-TAK) has been set upin partnership with GADVASU, Ludhianato provide tele extension services to farmers. Similarly, another project for enhancing the income of farmers through diversification towards vegetables viz. carrot, onion, garlic, etcwas also implemented in Fazilka district.

NABARD has supported 15 skill development programmesfor employability of rural youth in 2021-22. With focus on border area youth, training was conductedon “Injection Moulding Operator” through CIPET, Amritsar. Electrician training was providedto rural women under CSR in collaboration of Ambuja Cement Foundation (ACF). Similarly,National Small Industries Corporation (NSIC), Rajpura, was also supported for conduct of skill development programmes on diverse activities.

NABARD supported cooperative sector by providing 75 lakh under Cooperative Development Fundfor capacity building and infrastructure upgradation of PACS.

To make institutional credit available to landless/ land lease holder farmers at the grass root level for economic activity in farm and non-farms sector with promotion of JLGs were supported through DCCBs/ RRB.

With a view to enhancing the credit flow to agriculture and other rural sectors, it has projected a potential of ₹2,61,067crore for priority sector lending by banks in the current financial year 2022-23, including ₹1,51,627 crore under agriculture.