“An amount of Rs 52,050.78 crore has been assessed under agriculture”

The National Bank for Agricultural Development (NABARD) has made an overall projection of credit potential under priority sector at Rs 1,34,665 crore for Odisha for the year 2022-23, with an increase of around 21.61% over credit projection of 2021-22.

“Out of the total credit potential for priority sector, an amount of Rs 52,050.78 crore has been assessed under agriculture,” said the apex rural development bank in its State focus paper.

“Credit potential under agriculture constitutes around 38.65% of the total priority sector, of which Rs 48,221.10 crore (92.64%) is estimated under farm credit,” the bank said.

Credit potential under agriculture infrastructure and ancillary activities has been estimated at Rs 1,824.33 crore and Rs 2,005.34 crore respectively. Credit potential under MSME sector has been assessed at Rs 60,001.27 crore, constituting around 44.56% of the total priority sector, NABARD said. It said, other sectors consisting of export credit, education, housing, renewable energy and social infrastructure have around 16.79% share.

Various schemes

Finance Minister Niranjan Pujari emphasised upon the need for increasing the bank credit for priority sector as the government had been giving a lot of support through various schemes like Balaram, Kalia, Samrudhi and Millet Mission, and banks should increase the credit flow for private capital formation substantially.

“ NABARD has been increasing their support for the infrastructure development, tribal development, watershed development and micro entrepreneur development among self-help group women and will increase the developmental activities in the State,” said C. Udayabhaskar Chief General Manager NABARD.