State needs to increase agricultural sector, says Rakesh Ranjan
Principal secretary of Finance, Rakesh Ranjan has today pointed out that banking penetration of the state is too low which stood at 8.5 percent according to economic survey of India, 2011. To improve this situation, 27 blocks have been identified for opening of new bank branches, he said.
Rakesh made the statement during the 38th foundation day of National Bank for Agriculture and Rural Development (NABARD) at its regional office of Manipur, Salam Bhavan Sorbon Thingel today, under the theme “engaging rural youth gainfully”.
Attending the function as chief guest, Rakesh said that bank plays important role in boosting the economy of the state. But unfortunately, the access of banking facilities in the state is quite low in comparing with other developed states.
The concerned authority in association with other line department is deliberately discussing for its enhancement, he added. He continued that considering the prevailing scenario, they had focussed in expansion of bank branches. For this, 27 blocks have been identified, where there is a need of opening bank branches. Of which, 12 are already opened and remaining 15 will open shortly, said the principal secretary of finance department.
Talking on the economic sector of the state, he said that though 70 percent population of the state are confined in rural areas, and 16-20 percent contributes primary sector. To fill the gap, NABARD has to play tremendous role and unless primary sector mainly agricultural sector is developed, the state will never progress, said Rakesh.
He further stated that a large chunk of economic sector is shared by tertiary sector of 60 percent. But maximum of this sector comprised of government employees. This contribution pattern is also another undeniable reason to increase the agricultural sector of the state.
With the change of times, the issue of forced migration is increasing steadily. To curb this menace, there is a need of improving infrastructure, connectivity, financial credit and provide skill development programme and so on, he suggested.
Delivering his key note address, general manager OIC, NABARD, Manipur, K.J. Satyasai said that 65 percent of India’s population consist of youth below 35 years whereas the state stood with 25 percent of state population.
As the number of youth population is many, the future of the state will be secured if this large number of youth population is productive. With this view, NABARD priorities in development of rural youth as a theme of their foundation day, he asserted.
Other dignitaries who attended the function were MD of MSCB Ltd, Subash Singh; GM/OIC, RBI, Mary L. Tangpua; director, commerce and Industries and transport, W. C. Arthur; former member of steering committee, NER vision 2020, DoNER, N. Mohendro Singh and AGM of UBI, Raghunanda Samantha as guests of honour.
As a part of the programme, senior officials of bank, NGOs and farmers representatives from FPOs also participated.
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