Alka Upadhyaya lauds banks for contributions to development of India’s livestock sector

In her opening remarks, Ms. Upadhyaya praised the banks for their significant contributions to the development of India’s livestock sector.

The inaugural meeting of the Central Level Banker Coordination Committee for the Department of Animal Husbandry and Dairying (DAHD) took place at Vigyan Bhawan, New Delhi, on August 5, 2024. The meeting was chaired by Ms. Alka Upadhyaya, Secretary of DAHD, and attended by senior officials from DAHD, NABARD, SIDBI, NDDB, NCDC, and representatives from various lending banks.

In her opening remarks, Ms. Upadhyaya praised the banks for their significant contributions to the development of India's livestock sector. She highlighted India's position as the leading milk producer, the third-largest producer of eggs and fish, and the fifth-largest producer of meat and poultry. Including these products in diets is crucial for addressing protein deficiencies, which are major contributors to food insecurity and malnutrition. Ms. Upadhyaya urged banks to play a pivotal role in enhancing the sector by implementing credit-linked schemes to boost self-sufficiency, export potential, and organized processing capabilities.

Additional Secretary (Cattle & Dairy) Ms. Varsha Joshi emphasized the vital role of lending agencies in transforming India's animal husbandry sector. Joint Secretary (NLM) Dr. O. P. Chaudhary welcomed participants and underscored the livestock sector's significance in India's economy, noting its role in providing employment and supporting livelihoods. Joint Secretary (Inland Fisheries & Administration) Shri Sagar Mehra also presented on how banks and lending institutions can support various schemes under the Department of Fisheries.

The meeting included in-depth discussions on DAHD schemes such as the Animal Husbandry Infrastructure Development Fund (AHIDF), the National Livestock Mission-Entrepreneurship Development Programme (NLM-EDP), and the Kisan Credit Card (KCC). Discussions covered achievements, guideline modifications, portal usage, pending issues, and the support required from lending institutions. Key challenges addressed included limited access to finance for small entrepreneurs due to collateral requirements, delays in project sanctioning, untimely submission of interest subvention claims, and feedback from lenders.

The meeting identified significant opportunities within the sector and emphasized the need for enhanced collaboration between banks and the DAHD to overcome challenges and drive progress.