The paper estimated that Tamil Nadu’s priority sector credit potential for the State is about ₹ 4.93 lakh crore, up by 11% from the ₹ 4.13 lakh crore projections for 2022-23.

Tamil Nadu Finance Minister Palanivel Thiaga Rajan on Wednesday released State Focus Paper 2023-24, prepared by National Bank for Agriculture and Rural Development (NABARD). The paper estimated that Tamil Nadu’s priority sector credit potential for the State is about ₹ 4.93 lakh crore, up by 11% from the ₹ 4.13 lakh crore projections for 2022-23.

Among various segments, the paper estimates agriculture credit at ₹ 2.18 lakh, Ministry of Micro, Small and Medium Enterprises (MSME) sector at ₹ 1.68 lakh crore and other sectors at ₹ 1.06 lakh crore.

It also highlights the infrastructure gaps under various sectors, which may be addressed by the State government.

Releasing the paper at the State Credit Seminar, Mr. Rajan advised the banks to emphasise on focused lending to all the stakeholders of society.

He also stressed on the importance of ground level data for a data centric governance.

S M N Swamy, Regional Director, Reserve Bank of India, S. Srimathy, Executive Director of Indian Overseas Bank, Mahesh Kumar Bajaj, Executive Director of Indian Bank, senior government officials and bankers among others were present.