Only 8% NABARD allocation utilized in 2013-14
SRINAGAR, JUNE 17: Maintaining that Development should not be dependent on doles, the Minister for Finance, Labour and Employment Dr Haseeb Drabu today said instead it has to be achieved by participation of all stakeholders so that it becomes broad-based and specific to needs of people. Only then can such initiatives be sustainable, he said.
The Minister was addressing a state level sensitization workshop on Rural Infrastructure Development Fund (RIDF) organized by National Bank for Agriculture and Rural Development (NABARD) at SKICC here today.
The workshop was attended by Commissioner Secretaries of Finance, R&B, Health and Medical Education, Agriculture, Chief General Manager NABARD and other senior officers.
Dr Drabu while calling for integrated development involving the private sector and the financial institutions said; Special care should be taken for increasing the role of NABARD as a stakeholder in the state schemes, so that these are effectively implemented within the shortest possible time, he said and added that NABARD is not a lending agency but a developmental financial institution which could facilitate infrastructure development in J&K.
Expressing concern over the under utilization of NABARD funds during 2013-14 & 2014-2015, the Minister said it is a matter of grave concern that the funds meant for developmental activities were not utilized properly during this period. He said it is shocking to note that only 8% NABARD funding has been utilized during this period. This, he said has resulted in curtailing of current years allocation.
Dr Drabu asked the officers to give focused attention on horticulture and agriculture infrastructure as these constitute the backbone of the State economy. He said the concept of value chain and craft financing should also be undertaken in J&K.
The Minister also asked the NABARD to adopt two districts of the state, one each in both divisions, to undertake the gamut of activities so that they can be showcased as models of development undertaken by the Bank in Jammu and Kashmir. These districts would be known as NABARD districts, he added.
The Minister for Agriculture Mr. G N Hanjura also spoke on the occasion and underscored the need for prioritizing horticulture and agriculture sectors by giving focused attention to these crucial sectors. He said that these sectors are vital for the state and therefore there is pressing need for giving due importance to these sectors. He said that they are imperative for making the economy of the state viable and vibrant.
Chief General Manager NABARD gave a brief over view of the functioning and activities undertaken by the Bank in Jammu and Kashmir State.
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