KARIMNAGAR: TSCAB President Konduru Ravinder Rao stressed the need to add value to agricultural products, as this will facilitate doubling of farmers’ incomes within a reasonable timeframe.
Speaking at an outreach program for bankers in Karimnagar Integrated District organized by NABARD here on Tuesday, he said banks should educate farmers on several initiatives taken by the Union and state governments to double their income. Instead of just providing agricultural loans, banks should diversify their other agricultural activities to increase farmers’ incomes, he said.
Stating that Prime Minister Narendra Modi announced in 2016 the ambitious plan to double farmers’ incomes by 2022, he said the authorities should change the mindset of farmers in farming operations. He said that the young people were also entering the agricultural sector and exuding with confidence that they would bring about many changes in the culture with their dynamic innovations.
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Stating that the cultivated area has increased dramatically in Integrated Karimnagar as a result of Kaleshwaram Elevator Irrigation Project, he said that NABARD has supported Karimnagar DCCB by doubling farmers’ income in one year in some pockets of the district. .
Union Bank of India Regional Head Karimnagar and DGM M Arun Kumar said agriculture should be treated as an industry to boost its growth to the highest level and increase farmers’ incomes. He said NABARD programs should percolate into the soil and help farmers adopt innovative programs for their economic activities. He also said banks should discourage farmers from approaching lenders for funds to engage in cultivation.
Karimnagar DCCB CEO N Satyanarayana Rao said they are taking major benefits of NABARD programs to double farmers’ incomes. Stating that they had already taken advantage of 23 crore rupees for the diversification of PACS into one-stop shops, he said that they had submitted proposals for another 7.5 crore rupee NABARD aid which provides financial assistance to a very low interest rate.
NABARD AGA P Ananth made a PowerPoint presentation and highlighted the importance of credit lending to farmers and other sectors of society. He also inquired about special refinancing regimes and subsidy regimes. NABARD DDM Manohar Reddy, Karimnagar DCCB Managing Director Md Riazuddin and others were also present.
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