Odisha’s Credit Potential Worth Rs 90,000 Crore: NABARD
National Bank for Agriculture and Rural Development (NABARD) has projected an overall credit potential for Odisha under the priority sector at approximately Rs 90,000 crore for the year 2020-21. This estimate was arrived at in the State Focus Paper for Odisha, released in the credit seminar for 2020-21.
“The aggregation of the district-wise Potential Linked Credit Plans (PLPs) for 2020-21 projects a credit flow of Rs 90,395.69 crore for Odisha, with an increase of around 20 percent over credit projection of 2019-20,” said a NABARD statement.
Out of the total credit potential, an amount of approximately Rs 43,000 crore has been assessed under agriculture. Whereas, as per the statement, the credit potentials under agriculture infrastructure and ancillary activities have been estimated at Rs 1,603.94 crore and Rs 1,450.38 crore respectively.
The focus paper also cited that the credit potential under the MSME sector has been assessed at Rs 30,457.99 crore, which constitutes 33.69 percent of the projected lending. Meanwhile, other sectors including housing, education, export credit, renewable energy, and social infrastructure hold 18.43 percent share of the pie.
During the seminar, state finance minister Niranjan Pujari stressed the need for increasing the agri-term loan finance in activities of other allied sectors including animal husbandry, poultry, and fisheries, as it can aid in the diversification of farmers’ income. He also urged banks to increase their outreach in unbanked areas of the state.