NABARD projects Rajasthan’s credit potential at Rs 1.84 lakh crore for 2018-19
The credit potential is 23% higher than the annual credit plan fixed at Rs 1.49 lakh crore for the last fiscal
The National Bank for Agriculture and Rural Development (NABARD) has projected the credit potential of Rajasthan at Rs 1.84 lakh crore for the year 2018-19, which is 23% higher than the annual credit plan fixed at Rs 1.49 lakh crore for the last fiscal. Credit potential means that this is the amount that banks can lend to the state towards the priority sector.
The credit potential was indicated in the State Focus Paper 2018-19 officially released by the cooperative and Gaupalan minister Ajay Singh Kilak during the State Credit Seminar 2018-19 organised by NABARD, Rajasthan Regional Office on Thursday.
NABARD chief general manager AK Singh said “the State Credit Plan 2018-19 has been prepared with the theme of “Water Conservation - Per Drop, More Crop” having an aim to “double the farmers’ income by 2022” as envisaged by the Prime Minister of India, while conserving the water resources for the sustainable agricultural growth.”
“Investment credit continues to be the top priority for the policy makers and banks in view of its role as the precursor for capital formation in agriculture. The credit potential of Rs 43,084 crore has been assessed for agricultural term loans, agriculture infrastructure and ancillary activities, which accounts for 33 per cent of the total credit potential under agriculture. This is also 33 per cent higher than the target of Rs 32,290 crore fixed by the State Level Bankers Committee (SLBC) annual credit plan for the above sub-sectors during the year 2017-18,” he said.
“To give a fillip to credit flow for investment credit in agriculture, NABARD has prepared area based schemes on two potential activities for each of the 33 districts in the state,” Singh further added.
The credit plan document, prepared in consultation with the government departments, banks, and other stakeholders, has total credit potential for various sectors for the year 2018-19 spread as Rs 128,776 crore for agriculture, including farm credit of Rs 112,802 crore; Rs 32,263 crore for micro, small & medium enterprises, Rs 2,094 crore for export credit, Rs 2,088 crore for education; Rs 10,460 crore for housing; Rs 1,020 crore for renewable energy ; Rs 1,306 crore for social infrastructure; and Rs 5,509 crore under others head.
Agriculture sector, including agriculture infrastructure and ancillary activities, accounts for 70 per cent of the total credit potential, while the micro, small and medium enterprises (MSME) sector and other priority sectors account for 18 per cent and 12 per cent respectively.
Rural development and panchayati raj additional chief secretary Sudarshan Sethi, Public Works Committee principal secretary Alok, Rajasthan State Cooperative Federation (Rajfed) managing director Veena Pradhan and other officials were present on this occasion.