NABARD estimates Credit Potential of Odisha at Rs.2,00,608 cr for FY2024-25

Prameyanews English

Published By : Prameya News Bureau | January 11, 2024 IST

NABARD

NABARD conducted the State Credit Seminar for 2024-25 on 10 January 2024, in which the State Focus Paper for Odisha was released, projecting an overall credit potential under Priority Sector at Rs.2,00,608 crore for the year 2024-25. The seminar was Chaired by Smt. Anu Garg, IAS, Development Commissioner-cum-Additional Chief Secretary, Government of Odisha in the presence of Shri Vishal Kumar Dev IAS, Principal Secretary, Finance; Dr Arabinda Kumar Padhee, IAS, Principal Secretary, Agriculture and Farmers’ Empowerment; Dr S P Mohanty, Regional Director, RBI; Shri Goutam Patra, Convenor, SLBC; controlling Heads of Banks, other dignitaries from banking and State Government departments and NABARD District Development Managers from various districts.

Welcoming the dignitaries, Dr Sudhanshu K K Mishra CGM NABARD emphasized on the concerted efforts required to be made for achieving the set targets for the current year and increase the credit flow to priority sector in Odisha. He added the importance of resilient agriculture in shaping the future of agri economy in the State. He also highlighted the activities taken up by NABARD like canopy management in collaboration with Central Horticulture Experiment Station (CHES) wherein farmers from all over the state were trained for developing 100 nurseries, watersheds and WADIs promoted by NABARD. He also stressed that no stone will remain unturned as NABARD would make all effort to have a partnership with State Govt. for the development of the State.

Ms. Anu Garg, IAS, Development Commissioner-cum-Additional Chief Secretary, Govt. of Odisha and the Chief Guest on this occasion congratulated NABARD for completing the Credit planning exercise on time and stated that NABARD has been a major partner of the State Govt. in implementation, creation of rural infrastructures and scaling up their operation. She advised the stakeholders to ensure that efforts are made to achieve the potential plan that has been presented by NABARD for State. Shri Vishal Kumar Dev, IAS, Principal Secretary, Finance Department said that the credit flow from Banks to the priority sector in Odisha though has been good so far but it still needs lot of urgent improvement and attention as the credit plan for the state should be 40% of GSDP which is around Rs.3.50 lakh crore, however, the credit plan for 2024-25 is around Rs.2 lakh crore. He called for removal of regional disparity in the State in terms of financial services and coordinated efforts for paving way for sustained development. He asked all Banks to achieve the set targets and increase the bar specially focusing on Agriculture and MSME. He advised banks and line departments to introspect, revisit the strategies required for upscaling the credit flow and for removing the operational impediments in the growth of credit to the priority sector.

Dr Arabinda Kumar Padhee, IAS, Principal Secretary, Agriculture and Farmers’ Empowerment appreciated the efforts taken by NABARD for the State Focus Paper. He briefed the house about the focus of the Govt of Odisha so that all the stakeholders are in the same page. The major focus of the State as highlighted are climate resilient programmes, nutrition security, inclusive development, farm mechanization, etc.

Regional Director, RBI, Dr. S P Mohanty stressed upon the importance of achieving the projections being made in the State Focus Paper for better credit dispensation and ensuring that not only the targets are achieved but also advised banks to expand their horizon. He also stressed upon the need for aggressive penetration of banking services into the unbanked areas. Shri Goutam Patra, Convenor, SLBC, while appreciating the efforts put in by NABARD in preparation of the State Focus Paper 2024-25, deliberated on the usefulness of credit planning document and urged bankers to collaborate with various Stakeholders to achieve the target set under Annual Credit Plan (ACP) 2023-24.

A presentation on a pilot project for development of dairy sector in Ganjam District was made. The project is expected to benefit 2000 dairy farmers in the district in addition to enhancing the milk production up-to 25,000 liter per day. The participants were also apprised about the new initiative undertaken by NABARD in preparation of a bankable scheme of Harnessing the Potential of Horticulture Sector in Odisha through Nursery Development. Under the scheme it is proposed to cover 100 agri-preneurs from various districts of the State of Odisha.

The occasion was used for also honouring the major stakeholders like Self Help Groups, Government Institutions, NGOs and Community based organizations and achievers in rural area.

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  • NABARD FPO

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