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Chandigarh, To Revive the farming sector, Rural Development and Panchayat Minister Tripat Rajinder Singh Bajwa has invited the NABARD and other Banks to come forward. In the state level function of NABARD today, the Minister said that NABARD Should come forward to give loan on decreased rates. He said that NABARD has an important part in providing loans for farming sector but lots of work needs to be done in this regard.
Mr. Bajwa resonates that NABARD had decreased the credit limit of self help groups 6440 crore to 4140 crore. He said that previous Dr. Manmohan Singh Government gave the crop loan at the rate of Seven percent in 2006. But after every year half percent increase in this rate, now the rate is 4.5 percent. With this effect the profits of cooperative societies are at the point of 2.5 percent. He said that NABARD should take the issue with the centre Government. NABARD has not a stable rate. Its fluctuates But it needs to be stable. Mr. Bajwa said that farmers of Punjab faces new problems such as Stubble burning for addressing which the NABARD should come forward. He said that the Union Government Should give the MSP for other crops also. He invites the younger generation to come forward for harnessing their potential as entrepreneurs. He said that the crop diversification is the need of the Hour and NABARD has the important part of this. He also inaugurated the STATE FOCUS PAPER 2018-19 Of NABARD.
On the occasion Mr Vishawjit Khanna, Additional Chief Secretary (Development), Mr. DK Tiwari, Secretary Expenditure, Mr. Anurag Verma, Secretary, Rural Development, Mr. Nirmal Chand, Regional Director, RBI, Mr. Sanjay Kumar, chief general manager SBI and Mr. PS Chauhan, GM-SLBC Convener, Punjab were also present.
