nabard: State’s credit potential of 135k-cr | Bhubaneswar News

Bhubaneswar: The National Bank for Agriculture and Rural Development (Nabard) has projected Odisha’s credit potential at Rs 1,34,665 crore for fiscal year 2022-2023. This is 21.61% more than the estimated projection of Rs 1,10,735 crore in the last fiscal year.
Finance Minister Niranjan Pujari congratulated Nabard for completing the credit planning exercise and stressed the need to increase bank credit for the priority sector in Odisha.
He said: “The state government has provided a lot of support through various programs such as Balaram, Kalia, Samrudhi, Millet Mission and it is time for banks to dramatically increase the flow of credit for capital formation. private.
According to Nabard’s State Focus Paper for 2022-2023, the agricultural sector is expected to obtain the highest credit of Rs 52,050.78 crore of the total credit potential. For agriculture and related sectors, agricultural loans and agricultural loans have been estimated at Rs 48,221.10 crore, while the credit potential for agricultural infrastructure and related operations has been estimated at Rs 1,824.33 crore. of Rs and Rs 2005.34 crore, respectively.
The credit potential in the MSME sector has been assessed at Rs 60,001.27 crore, which represents about 44.56% of the total of the priority sector. The other sectors including export credit, education, housing, renewable energy, others and social infrastructure account for about 16.79% of the total credit potential in the priority sector.
C Udayabhaskar, Chief Executive Officer of Nabard, said: “Concerted efforts must be made to achieve the goals set for the current year and increase the flow of credit to the priority sector.
He added that Nabard had increased his support for infrastructure, tribal, watershed and micro-entrepreneur development among SHG women and would increase development activities in the state.

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