NABARD puts state’s credit potential at Rs71,419.85 crore

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press trust of india
Bhubaneswar, Jan 17: National Bank For Agriculture and Rural Development (NABARD) Wednesday projected an overall credit potential for Odisha under priority sector at Rs71,419.85 crore for 2018-19.
The projection was made in the first State Focus Paper for Odisha released by Chief Minister Naveen Patnaik at the the annual State Credit Seminar of NABARD for 2018-19 here Wednesday.
The chief minister expressed happiness with the efforts of NABARD in preparation of the credit plan by taking into account the available and planned infrastructure, existing policies and schemes of government demand and supply conditions. He lauded NABARD for the developmental financial assistance provided to the state in last financial year and appreciated the lender for its initiative in implementing 51 Tribal Development Projects and 108 Watershed Development Projects in the state, benefiting about 94,000 poor families.
Dr KC Panigrahi, chief general manager, NABARD in turn highlighted the developmental financial assistance to the tune of Rs14,715 crore provided by NABARD in the state during last year and target of NABARD for the current financial year.
During the current year, NABARD has extended financial support of more than Rs11,000 crore to the state government for creation of rural infrastructure, to the banks as refinance for short term production loans and long term investment loans and to the State Civil Supplies Corporation for procurement of paddy from the farmers, he said.
He solicited cooperation of state government, banks and other stake holders for achieving the potential.
State Finance Minister Sashi Bhushan Behera exhorted all stakeholders to focus on agricultural and rural development addressing the areas where improvement is required. He said urged the banking network in the State to realise the planned credit potential.
Chief Secretary A P Padhi called for optimum exploitation of the credit potential, while expressing concern about negative growth in credit flow for agriculture and MSME sectors during 2016-17. He requested banks to reverse the trend and ensure better inclusive growth.