The Rural Development and Panchayat Minister Tript Rajinder Singh Bajwa has invited the NABARD and other Banks to come forward for the survival of farming sector. During a state level function of NABARD here today, the Minister said that NABARD should come forward to provide loan on lower rates to the farming sector. He said that NABARD has an important part in providing loans for farming sector but lot of work needs to be done in this regard.During his speech Mr. Bajwa said that NABARD had lowered the credit limit of the self help groups from 6440 crore to 4140 crore, which needs to be increased. He said that during the Dr. Manmohan Singh Government crop loan was provided at the rate of seven percent in 2006. But after every year half percent started increasing, now the rate is 4.5 percent. With this effect the profit of the cooperative societies were at the point of 2.5 percent. He said that NABARD should take up this issue with the centre Government. He further said that NABARD does not have a stable rate, it fluctuates at times, this needs to be stable.
Mr. Bajwa said that farmers of Punjab faces new problems such as Stubble burning for addressing this problem the NABARD should come forward. He said that the Union Government should give the MSP for other crops also. He invited 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 to make this a success.The Rural Development and & Panchayat Minister 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.