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Kerala gets RS 2,500-crore Nabard help

National Bank for Agriculture and Rural Development (Nabard) will provide the state with a liquidity facility of `2,500 crore.

Published: 17th May 2020 06:41 AM  |   Last Updated: 17th May 2020 06:41 AM   |  A+A-

By Express News Service

THIRUVANANTHAPURAM: National Bank for Agriculture and Rural Development (Nabard) will provide the state with a liquidity facility of Rs 2,500 crore. A high-level meeting chaired by Chief Minister Pinarayi Vijayan on Saturday observed that this would be a big boost to the state government’s Subhiksha Keralam project to tide over the post-Covid food crisis.

Subhiksha Keralam has been devised for rejuvenating the agricultural and animal husbandry sectors. Of the total amount, Rs 1,500 crore will be released to Kerala Bank and Rs 1,000 crore to the Kerala Gramin Bank. Farmers will get loans from primary agricultural credit cooperative societies.

Kerala Bank will spend Rs 990 crore on loans for agriculture production and on working capital loans in fisheries and animal husbandry sectors. It will spend Rs 510 crore on self-employment projects, handloom, handicraft, processing of agricultural produce and small trades. The chief minister said Kerala was headed for a major shift in the agricultural sector. “All those interested in farming should be encouraged and supported to do so,” he said. 

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