state potential linked credit demand

NABARD estimates credit potential of Odisha at Rs. 71419.85 crore for 2018-19

Bhubaneswar: Odisha Chief Minister Naveen Patnaik on Wednesday informed that NABARD has prepared a state potential linked credit demand that has projected the total credit demand under priority sector for the year 2018-19.

The State Focus Paper for Odisha was released at the annual State Credit Seminar of NABARD for 2018-19 here projecting an overall credit potential under priority sector at Rs. 71419.85 crores for the year 2018-19.

“I am happy to know that NABARD has provided developmental financial assistance of Rs 14,715 crore during last year and during the current year, it is expected to cross Rs 16,000 crore,” said the Chief Minister.

He solicited the cooperation of State government, Banks and other stakeholders towards for achieving the potential.
He urged banks and other stakeholders to refer the credit plan documents prepared by NABARD and play a pro-active role in achieving the credit targets.

He applauded NABARD for the developmental financial assistance provided to the State during the last financial year.

He also appreciated NABARD for its initiative in implementing 51 Tribal Development Projects and 108 Watershed Development Projects in the State, thus benefitting about 94,000 poor families.

Dr K C Panigrahi, Chief General Manager, NABARD briefly explained the process of preparation of District level Potential Linked Credit Plans (PLPs), State level credit potential and the significance of the documents in credit planning of the State.

He said that the document is well appreciated by all as it provides inputs to departments of the state government, various organisations/entities and banks in the formulation of their policies and programmes for ensuring enhanced credit flow.

He highlighted the developmental financial assistance to the tune of Rs 14715 crore provided by NABARD in the State during last year and target of NABARD for the current financial year.

During the current year, NABARD has hitherto extended financial support of more than Rs 11000 crore to the State Government for the creation of rural infrastructure, to the banks as refinance for short-term production loans and long-term investment loans and to the State Civil Supplies Corporation for procurement of paddy from the farmers.

While referring to the developmental and promotional activities undertaken by NABARD, he narrated NABARD’s role in SHG Bank Linkage, promotion of JLG mode of financing, support by NABARD for Financial Inclusion in the State, etc.

He made a special mention about the efforts of NABARD for digitization of SHGs thorough ‘EShakti’ in 7 districts of Odisha and launching of water campaigns by NABARD in the 10 water stressed districts for awareness about water conservation and efficient use.

Underlining role of NABARD in combating climate change, he informed that NABARD is implementing a GCF (Green Climate Fund) project in 15 vulnerable and backward districts.

He also said that the Credit projections for Odisha for 2018-19 at Rs. 71419.85 crores is based on the potential assessed under various sectors and sub-sectors in all agro-climatic zones of the state.

Finance Minister Sashi Bhusan Behera exhorted all stakeholders to focus on agricultural and rural development addressing the areas where improvement is required.

He stated that the State Credit seminar is a suitable platform for discussions on plans and projects by all stakeholders to give meaningful direction to the development process of the State.