Telangana Requests NABARD Funds For Agriculture

Telangana Finance Minister Etela Rajender today urged the National Bank for Agriculture and Rural Development (NABARD) to provide the necessary financial assistance for farming and allied sectors which were yet to witness growth.

During a State credit seminar of the NABARD along with Chief Secretary S P Singh, Rajender expressed concerns that they weren't reaching targets in the farming sector as there was some a wide gap between efforts and implementation of schemes, giving poor results.

The Finance Minister pointed out that despite Telangana's GDP rate in the past six months surpassed the national GDP of 7.5%, the farming sector had seen better days.

However, appreciating the NABARD for supposedly helping rural Telangana's development, he said that significant growth was possible only when the agriculture sector grew, too.

"Our aim is to work towards increasing the growth rate in the farming sector to 22% from 17%, and the NABARD, in coordination with the State machinery, has to work towards that end," he suggested.

"The young State implemented flagship programs including Mission Bhagiratha, Mission Kakatiya and others, which will strengthen the agriculture sector. But to continue them, it needs more funding," he said.

He also suggested that other banks replicate NABARD's policy and help allied wings of the farming sector strengthen.