In order to reinforce the importance of capital formation, a total potential of Rs 701.63 crore has been identified for investment in agriculture term loans, reveals the state focus plan report published by NABARD, Tripura Regional Office, Agartala.
According to state focus plan report, it has stated that there are several ways by which this potential can be tapped by the bankers and other concerned, one method by which positive results can be assured is to implement the schemes on an area based approach.
The state focus plan has planed and published unit costs for farm sector investment activities have been prepared by NABARD for the year 2019-220 and taken as the basis for estimating the potential under farm sector for various farming activities. The important requirements for sustaining the growth rate in agriculture are needed to increase the investment or capital formation in agriculture.
According to report of agriculture department that state economy of Tripura is basically agrarian and characterized by high rate of poverty, low per-capita income, low capital formation, inadequate infrastructural facilities, geographical isolation, communication bottleneck, inadequate exploitation, inadequate use of forest and mineral resources, low progress in industrial field and high un-employment problem. More than 42 percent of its population now directly depends on agriculture & allied activities.
In course of conversation with high officials of NABARD, it has informed to UNI that NABARD conducts inspection of State Cooperative Banks (SCBs), Central Cooperative
Banks (CCBs) and Regional Rural Banks (RRBs), Direct Finance, Rural Infrastructure
Development Fund (RIDF), Loans to Food Parks & Food Processing units, Credit Facilities to Marketing Federations, Direct Refinance to Cooperative Banks, Financing Farmer Producers Organisations, Institutional Development, Farm Sector Development, Off Farm Sector Development, Micro Credit Innovations, Financial Inclusion, Research & Development, Core Banking Solutions to Cooperative Banks and Climate Change.
Need for Sustainable Agriculture in the state and sustainable agriculture farming practices which are sustainable for longer time period for identified location and developed by understanding of eco system services.
The most important factors for agriculture farm are sun, air, soil, nutrients and water. Climate change increases volatility and threatens efforts to end poverty owing to additional 100 m people could be affected by 2030, published report by the NABARD. (UNI)
