By Bizodisha Bureau, Bubaneswar, January 20, 2019: The National Bank for Agriculture and Rural Development (NABARD) on Saturday projected the credit requirement for priority sectors in Odisha at Rs 75,611.97 crore for 2019-20.

This was part of the State Focus Paper for Odisha, released at the State Credit Seminar for 2019-20.

Out of the total credit potential for priority sectors, agriculture and allied sector constitute Rs 41,320.02 crore, which is about 54.65 per cent of the total projection. Out of the credit potential pegged for the agriculture and allied sector, the requirement for farm credit is estimated to be Rs 38,267.76 crore. This includes crop production, maintenance & marketing and term loan for agriculture and allied activities.

The seminar was inaugurated by Chief Secretary A P Padhi and attended by secretaries of different departments, RBI, SBI, Odisha State Cooperative Bank, Chairmen of RRBs, controlling Heads of Banks and other dignitaries from banking and state government.

A Chandrasekhar, Chief General Manager, NABARD explained the process of preparation of state level credit potential, the state credit projection forming the basis of Annual Credit Plan.

The document assesses infrastructure available, planned, gaps, and is used as a referral document for planning infrastructure and credit dispensation by all stakeholders.

“The credit projections for Odisha for 2019-20 is at Rs 75,612 crore that is based on the potential assessed under various sectors and sub sectors in all the agro climatic zones of the state,” Chandrasekhar said and solicited cooperation of state government, banks and other stakeholders towards achieving the potential.

Besides, credit potential under agriculture infrastructure and ancillary activities have been estimated at Rs 1,716.23 crore and Rs 1,336.04 crore, respectively.

For the MSME (micro, small & medium enterprises) sector, the credit potential has been assessed at Rs 19,021.27 crore for the ensuing financial year, about 25.15 per cent of the total priority sector.

Other sectors, consisting export credit, education, housing, renewable energy, others and social infrastructure, have 20.20 per cent share in the total credit potential under priority sector.

Odisha is one of the leading beneficiaries of RIDF (Rural Infrastructure Development Fund) loans from Nabard.