UP rural credit pegged at Rs 2 lakh cr in 2017-18

Credit potential up 17% amid talks of farm debt waiver in UP

Even as the Yogi Adityanath government in Uttar Pradesh (UP) is yet to spell out its blueprint for the promised farm debt waiver, the National Bank for Agriculture and Rural Development (NABARD) has pegged UP’s composite rural credit potential at over Rs 2,07,000 crore during 2017-18.

This projection, which constitutes UP's Potential Rural Credit Plan, is almost 17 per cent higher than the corresponding figure of about Rs 1,78,000 crore estimated for the current 2016-17 financial year, thereby implying greater credit flow to the state's rural economy and capital formation in the farming and allied sectors.

The farm loan waiver