Banking sector can play important role in improving economy, jobs: CM

JAIPUR: Chief minister Ashok Gehlot on Wednesday said in view of the current situation in the country, improving the economy should be top priority and banking sector can play key role in this.

“Banks can make a major contribution to the country’s GDP and employment growth by providing loans to priority sectors as per the target,” he said.

The c hi e f minist e r was addressing a state-level seminar organized by the NABARD.

He said there is immense scope in areas such as agriculture, animal husbandry, dairy, handicraft, water conservation, rural development and self-employment. Banking institutions, including NABARD, can play an important role in the development of the country and the state by working in these areas, he added.

Gehlot said the state government has come up with new policies for the development of solar energy, wind energy, industry, agro-processing and MSME sector.

Simultaneously, work of refinery cum petrochemical complex in Barmer is undergoing rapidly. In this way, the role of NABARD and banks will increase in the state, he said.

Gehlot said the way nationalized banks has given relief to industrialists by doing one time settlement of the loans, similarly to strengthen the agriculture sector, which holds an important place in the economy, one time settlement of loans of farmers should also be considered. He said that farmers are relieved with loan waiver of cooperative banks and land development banks in the state.

Gehlot released the state focus paper of NABARD for 2020-21. In the paper, NABARD has assessed a loan disbursement of ₹211,659 crore to priority sectors in the state.