The National Bank for Agriculture and Rural Development (Nabard) has pegged the potential linked credit requirement of Orissa at Rs 16,915 crore for 2010-11.This included Rs 9110 crore credit for agriculture and allied activities, Rs 1404 crore for non-farm sector including agro and food processing and Rs 6400 crore for other priority sectors including Rs 1800 crore for the Self-Help Groups (SHGs).
While the credit projection for the current fiscal was Rs 11,518 crore, the projection for the next fiscal would be 47 per cent higher than 2009-10.
The State Focus Paper (SFP), based on the potential linked credit plans (PLCPs) prepared for all the districts of the state by Nabard has identified huge potential for growth in agricultural sector. It was unveiled by the state finance minister Prafulla Chandra Ghadai during the state level credit seminal organized by Nabard in the city.
Speaking on the occasion, Ghadai said, the credit flow to the thrust areas like minor irrigation, micro-finance, SHGs has increased in the state. More than three lakh SHGs have been credit linked in the state by end of 2008-09. Orissa has now become one of the front runners in SHG formation and linkage with the bank. The banks operating in the state should keep up this tempo, he suggested.
U C Sarangi, chairman, Nabard said that the credit plan focuses on improving the credit flow with a view to improve productivity in the agriculture sector. He urged the bankers in the state to take cognizance of the potential while preparing their credit plans and requested the state government to plan for infrastructure support for optimal credit offtake.
Stating that the rural infrastructure development is vital for enhancement of agricultural productivity, the Nabard chief said, the bank has supported over one lakh infrastructural projects in Orissa over the last 15 years. It involved a loan of Rs 4745 crore from the Rural Infrastructural Development Fund (RIDF). Against the normative allocation of Rs 666 crore for 2009-10, Nabard has sanctioned projects worth Rs 735 crore, he added.
