From Our Special Correspondent
Daijiworld Media Network - Bangalore

Bangalore, Oct 17: The National Bank for Agriculture and Rural Development (NABARD) has given an all-time high financial assistance of Rs 10,060 crore for agricultural and rural development to Karnataka during the year 2013-14, which accounts for a growth of 19.5 per cent over the previous year.

NABARD financial assistance for agriculture and rural development in Karnataka is expected to double over the next three years and touch Rs 12,000 crore during 2014-15, according to Nabard Chairman Dr Harsh Kumar Banwala.

Dr Banwala said NABARD adopted a fourfold strategy for ensuring equitable and holistic development of the State :
 Enhancing income levels of farmers and creation of livelihood opportunities through various credit and non-credit initiatives.
 Effective and holistic financial inclusion.
 Institutional development initiatives aimed at bringing vibrancy in the functioning of Cooperatives and RRBs.
 Formulating and operationalizing Area Development Programmes for increasing the capital formation in agriculture through bank credit.

Dr Banwala said NABARD disbursed the highest ever Investment Credit support for banks to the extent of Rs.2550.00 crore during 2013-14 and in the current year the assistance has already reachedRs.2,430 crore.

An amount of Rs.467.39 crore has been disbursed to Cooperative Banks and RRBs out of the newly created Long Term Rural Credit Fund (LTRCF) of Rs.5,000 crore announcedin the Union Budget for 2014-15, he said explaining that it will result in the much needed enhancement of capital formation in agriculture in the State.

Under the Central subsidyschemes, NABARD had disbursed a cumulative amount of Rs. 281.55 croreto 25,832 beneficiaries for ruralgodowns,marketinginfrastructure,dairy,solarhomelighting, water heating, goat/sheep, poultrydevelopment,agriclinicsetc.

An additional storage space of 27.37 lakh MT has been created. In order to help the farmers in the State, NABARD has extended concessional crop production refinance at 4.5% p.a. to the extent of Rs.6511.00 crore during 2013-14 to Cooperative Banks and RRBs which is expected to be enhanced to Rs.7300 crore during 2014-15.

Under the newly opened Direct Refinance window, NABARD has disbursed Rs.813.00 crore to DCCBs in Karnataka during last three years. The level of disbursement is likely to cross 1300 crore in the current year, he said.

NABARD had sanctioned Rs. 906.79 crore for construction of 2199 rural infrastructure projects covering Road, Bridges, Irrigation, Rural markets, ITIs, PU colleges, Polytechnics, Anganwadies, Veterinary institutions, Rural SamparkKendras and Fish jetties during 2013-14.

It has supported the State for creating rural infrastructure projects covering Roads, Bridges, Irrigation, Rural markets, ITIs, PU colleges, Polytechnics, Anganwadies, Veterinary institutions, Rural SamparkKendras and Fish jetties through the RIDF to the tune of Rs.617.94 crore during 2013-14 taking the cumulative assistance to Rs.6482.00 crore.

So far, an irrigation potential of 2,49,046 hectare has been created through 2303 completed irrigation projects and road length of 34,145 KM created through 5957 completed road projects. Further, 2.69 Lakh MT of scientific storage space was created in 133 godown and 831 bridge projects have been completed.

In Karnataka, NABARD has supported 13 Producer Organisations with cumulative sanctions amounting to Rs. 41.22 crore.

The activities supported include Seed processing & Grading Unit, procurement of Certified Groundnut seeds, Market Intervention / Processing of Arecanut, Oil seeds procurement operations, Sheep rearing &Wool Weaving, Small and Marginal Farmers’ Producer Organisation, procurement / pledge loan operations of various commodities. This initiative is poised to get a further boost with Centre announcing a Fund of Rs.200 crore in Budget 2014-15 for promoting Farmer Producer Organisations, he explained.