By Bizodisha Bureau, Bhubaneswar, January 17, 2018: The National Bank for Agriculture and Rural Development (NABARD) has projected an overall credit potential for the State of Odisha under Priority Sector at Rs. 71419.85 crore for the year 2018-19 up 7.31% over credit projection of Rs. 66554.51 crore made for 2017-18.

Out of the total credit potential for priority sector, Rs 38378.41 crore has been assessed under agriculture constituting 53.74% of the total priority sector. Rs 35528.23 crore (92.57%) is estimated under farm credit, which comprises both crop loans and term loans for agriculture and allied activities. Besides, credit potential under agriculture infrastructure and ancillary activities have been estimated at Rs 1671.58 crore and Rs 1178.60 crore, respectively.

Moreover, out of the total credit potential assessed under agriculture sector, 27.48% is under term loans. Credit potential under MSME sector has been assessed at Rs 17919.19 crore, constituting 25.08% of the total priority sector. Other sectors consisting of export credit, education, housing, renewable energy, others and social infrastructure have 20.73% share in the total credit potential under priority sector.

The State Focus Paper indicates the critical infrastructure gaps and makes suggestions with a view to overcome the constraints. For 2018-19 FY, special emphasis has been laid on assessment of critical gaps in infrastructure, which has the potential for supplementing the infrastructure planning and prioritization of investments of the State government in an effective manner. Total financial outlay against these investments has been pegged at Rs 5363.18 crore.

Releasing the State Focus Paper on Wednesday, chief minister Naveen 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 during the last financial year. He also appreciated NABARD for its initiative in implementing 51 Tribal Development Projects and 108 Watershed Development Projects in the State, thus benefitting about 94,000 poor families.

In his welcome address, Dr K C Panigrahi, Chief General Manager, NABARD highlighted the developmental financial assistance to the tune of Rs 14715 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 11000 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 added.

Among others, finance minister, Sashi Bhusan Behera, chief secretary, A P Padhi, principal secretary, finance, T K Pandey, officials attended the Annual Credit Seminar of NABARD.