Nabard projects Rs 2.50 lakh crore credit requirement for Punjab in 2021-22

The National Bank for Agriculture and Rural Development (Nabard) on Thursday said it has projected credit requirement of Rs 2.50 lakh crore for Punjab in 2021-22.

This represents an overall rise of about 9 per cent over the projections for 2020-21, Nabard Chief General Manager Rajiv Siwach said in a statement.

Of the aggregate credit potential, the share of crop loan is pegged at Rs 98,400 crore and agriculture term loan at Rs 46,800 crore, he said.

Nabard on Thursday held a state credit seminar here.

Speaking on the occasion, Punjab Finance Minister Manpreet Singh Badal reminded the stakeholders of their responsibility towards the future of the country and eradication of ills such as poverty that persists, the statement said.

The minister also gave a call to the people of Punjab to once again lead the country as they always have.

He outlined the potential of the goat sector and the promise of Punjab in becoming the 'Goat State' of the country.

Such livelihood activities have the potential to support an export-based meat industry, he said.