“An amount of ₹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 ₹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 ₹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 ₹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 ₹1,824.33 crore and ₹2,005.34 crore respectively. Credit potential under MSME sector has been assessed at ₹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.