Port Blair, Feb 18: NABARD Andaman & Nicobar RO, Port Blair launched the Potential Linked Credit Plan (PLP) 2021-22 for U T of Andaman & Nicobar Islands in a Meet held on 17 February 2021. The PLP was launched jointly by Mr. Sanjeev Mittal, IAS, Secretary, Finance and Ms. Veditha Reddy, IAS, Secretary, Agriculture. Directors & Officials from Line Departments, SBI Regional Manager, Bank Branch Managers, CIARI and NGOs participated in the event.
Mr. Sanjeev Mittal, IAS, Secretary, Finance, after releasing the document, congratulated NABARD and expressed appreciation to NABARD for preparing such an exhaustive document highlighting sector/sub sector wise critical gaps & interventions, addressing the issues, suggesting action points and projecting the credit potential on a scientific manner for the financial year 2021-22. Ms. Veditha Reddy, IAS, Secretary Finance, in her address mentioned that the potentials projected in the PLP was definitely an achievable one and will help in the overall development of the Islands and the Islanders and called upon the banks to realise the credit potential of the Islands.
Mr. V Mashar, General Manager/OIC, NABARD, in his opening remarks dwelt upon the objective of preparing the document, its methodology and its utility for the bankers, Administration, line departments and the Islanders. He also briefed the house about the support available from NABARD through various programmes such as PACS to MSCs, Agriculture Infrastructure Fund (AIF), Watershed Development Fund (WDF), Tribal Development Fund (TDF), Rural Infrastructure Development Fund (RIDF) and Climate Change Fund. KCC for Fisheries and Animal Husbandry, finalisation of scale of finance for the recurring expenditure in Animal Husbandry & Fisheries sector, SHG bank linkage, promotion and credit linkage of FPOs and dissemination of digital literacy awareness in every nook and corner of the Islands were emphasised.
Potential for Priority Sector Lending in the Andaman and Nicobar Islands was estimated at Rs.942.64 crore for the financial year 2021-22. Potential for Farm credit (including crop production and term loan) was assessed at Rs.403.09 crore, MSME at Rs 368.76 crore, Informal Credit Delivery System including lending to SHGs at Rs.10.62 crore and other priority sectors at Rs. 160.17 crore.
The Theme of the PLP for the year 2021-22 is “Collectivisation of Agricultural Produce for enhancing Farmer’s Income”. The major thrust areas for the Islands are nurturing and strengthening the FPOs, Supporting Primary Agricultural Credit Societies as Multi-Service Cooperatives, De-risking Farm Income through Integrated Farm Models, Financial Inclusion, Tribal Development, mainstreaming the financially excluded, creation of infrastructure for agriculture, fisheries, watershed development and climate change adaptation. Mr. R V Ramakrishna, GM, NABARD mentioned that NABARD prepares Potential Linked Credit Plans for all the districts in the country and also State Focus Papers for ensuring smooth flow of credit to agriculture and rural sectors of the economy. This is considered a unique exercise in credit planning which is based on grass-root planning with the district as the base for development.
