National Bank for Agriculture and Rural Development (NABARD) has projected overall credit potential of Odisha under priority sector at Rs 58,882.39 crore for the year 2016-17.
This was part of the State Focus Paper-2016-17 which was released by Odisha Chief Secretary A P Padhi at the State Credit Seminar held here today.
The seminar was based on the theme "Accelerating the pace of Capital Formation in Agriculture and Allied Sector in Odisha".
NABARD Chief General Manager S K Kale said that the plan document had been prepared to give focused attention to the rural credit flow in the state especially through agricultural term loans, area based projects and integrating with financial inclusion.
He also highlighted the development perspective and strategies for promotion of various rural sectors.
Padhi emphasized on enhanced credit flow to agriculture and allied sectors. He urged banks to upscale rapid growth of credit flow as the state government is extending various supports through subsidies and incentives.
Sectors like fishery and dairy have huge potential and need to be supported by banks, Padhi said, adding that the commercial banks would have to provide more support in the state under agriculture and allied sectors.
He said that the state government was making all efforts to bridge the critical infrastructure gaps and banks would have to act in a manner that projections made by NABARD were achieved through concerted efforts.
The State Focus Paper (SFP) 2016-17 presents the credit potential estimated in agriculture and priority sectors as reflected in the Potential Linked Credit Plans (PLPs) prepared by NABARD for all the districts in Odisha.
The State Focus Paper indicates initiatives for enhanced production and productivity of agriculture on a sustainable basis, generation of employment and reduction of rural poverty through increased ground level credit and promotion of agri business.
Besides, other initiatives include strengthening of rural infrastructure, up-scaling of micro finance interventions, creation of livelihoods in the rural farm and non-farm sector and others through adequate credit support to various projects for development of rural economy.
