NABARD puts Odisha’s credit potential at Rs 71419.85 crore

Bhubaneswar: The National Bank For Agriculture and Rural Development (NABARD) on Wednesday projected an overall credit potential for Odisha under priority sector at Rs 71,419.85 crore for 2018-19.

The projection was made in the State Focus Paper for Odisha released by Chief Minister Naveen Patnaik at the the annual State Credit Seminar of NABARD for 2018-19 here.

The chief minister, who also unveiled the Area Development Scheme for 2018-2023, expressed happiness for efforts of NABARD in preparation of the credit plan of Rs 71,419.85 crore for the state by taking into account the available and planned infrastructure, existing policies and schemes of government demand and supply conditions.

Patnaik urged banks and other stakeholders to refer the credit plan documents prepared by NABARD and play a pro-active role in achieving the credit targets.

He applauded NABARD for the developmental financial assistance provided to the state in last financial year. He also appreciated NABARD for its initiative in implementing 51 Tribal Development Projects and 108 Watershed Development Projects in the state, benefiting about 94,000 poor families.

In his address, Dr K C Panigrahi, chief general manager, NABARD explained the process of preparation of District level Potential Linked Credit Plans (PLPs), state level credit potential and the significance of the documents in credit planning of the state.

Panigrahi highlighted the developmental financial assistance to the tune of Rs 14,715 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 Rs 11,000 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 said the credit projections for Odisha for 2018-19 at Rs 71,419.85 crore is based on the potential assessed under various sectors and sub sectors in allagro climatic zones of the state. He solicited cooperation of state government, banks and other stake holders for achieving the potential.

Odisha’s 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.

A P Padhi, Odisha chief secretary 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.