NABARD to provide funds to Punjab Agri Univ for research

Ludhiana, Nov 21 (UNI) National Bank for Agriculture and Rural Development (NABARD) is identifying the possible areas of cooperation with Punjb Agriculturl University (PAU), so as to provide funds for research and development.

''Since Punjab government is focusing on diversification, we are identifying the possible areas of diversification which can help increase in farmers' income'', NABARD General Manager P Renganathan said while addressing the officers of the bank during a Business Meet yesterday at the PAU campus.

The meet was arranged to make the district development officers of NABARD, aware of the latest technology developed by the University for the betterment of farming.

NABARD Chief General Manager S R Aluru in his address said that Rs 921 crore have been allocated as credit investment in Punjab. The bank was keen to help the farmers in their proper credit planning, he added.

''We feel farmers should get short term crop loan at seven per cent rate of interest and for this, we are negotiating with cooperatives banks'', he said. ''Investments from these banks will flow to help the Punjab farmers in better managing their farms and to increase their incomes''.

PAU Vice-Chancellor K S Aulakh in his address said the plateau in the productivity of rice and wheat, during the last few years, had given a serious blow to agriculture in Punjab.

Ever rising cost of cultivation had greatly lowered the profits of farmers, he added.

''Large number of tractors, tubewells and good life style of farmers- the visible signs of prosperity to an onlooker--- are all deceptive,'' he said. The fact is that Punjab farmers are under debt,'' he said, adding the need of hour therefore, was to bring a drastic change in farming in order to raise the income of the farmers.

Dr Aulakh further said food security of the country was of prime importance but agriculture in the state had to be reviewed with a new perspective. ''Paddy is not a suitable crop for the state, as it has adversely affected our water resources'' he said.

The Vice Chancellor said the need of the hour was to diversify to other crops that save water and at the same time give more income to farmers. He urged NABARD to invest in research and development to evolve new farm technologies which can increase farmers' income.

UNI HS SI KN1557