Bhubaneswar: National Bank for Agriculture and Rural Development (Nabard) has projected Odisha’s credit potential at RS 1,34,665 Crore for the financial year of 2022-23.
This is 21.61% more than the estimated projection of RS 1,10,735 Crore in the last financial year.
Finance Minister Niranjan Pujari congratulated Nabard to complete credit planning exercises and emphasized the need to increase bank loans for the priority sector in Odisha.
He said, “The state government has encouraged a lot of support through various schemes such as Balaram, Kalia, Samrudhi, Millet mission and the time of banks to substantially increase credit flow for the formation of private capital.” In accordance with the nabard state focus paper for 2022-23, the agricultural sector is estimated to get the highest credit of Rs 52,050.78 Crore from the total credit potential.
For agriculture and sector sectors, both plant 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 projected to each RS 1824.33 Crore and RS 2005.34 Crore.
Credit potential under the MSME sector has been assessed at Rs 60,001.27 Crore, which is around 44.56% of the total priority sector.
Other sectors consisting of export, education, housing, renewable energy, other people and social infrastructure have around 16.79% of the shares in the total credit potential under the prioritas.c Udayaabhaskar sector, the head of the General Manager Nabard, said, “it needs a joint effort Made to achieve the target set for the current year and increase the flow of credit to the priority sector.
“He added that Nabard has increased his support for infrastructure development, tribes, river and micro flows among SHG women and will increase development activities in the state.