According to NABARD’s state focus paper for Odisha, the state’s credit projection for the fiscal year 2022-23 is Rs 1,10,735 crore, up 21.61 percent over the previous fiscal. The agriculture sector is expected to receive the most credit, with a total credit potential of Rs 52,050.78 crore (or 38.65% more).
Odisha’s entire credit potential for the financial year 2022-23 has been estimated at Rs 1,34,665 crore by NABARD. The estimate was made in the state focus document for Odisha presented by the National Bank for Agriculture and Rural Development (NABARD) on Tuesday.
Mr. Niranjan Pujari, the state finance minister, has encouraged banks to increase their credit to important sectors.
C Udayabhaskar, Chairman-cum-General Manager (CGM) of NABARD, said that concentrated efforts are needed to meet the current financial year’s targets and increase loan flow to priority sectors.
According to NABARD’s state focus paper for Odisha, the state’s credit projection for the fiscal year 2022-23 is Rs 1,10,735 crore, up 21.61 percent over the previous fiscal.
The agriculture sector is expected to receive the most credit, with a total credit potential of Rs 52,050.78 crore (or 38.65 percent more). Farm credit, which comprises both crop loans and term loans for agriculture and allied industries, is estimated to total Rs 48,221.10 crore.
Farm infrastructure and related operations credit potential is estimated to be Rs 1,824.33 crore and Rs 2,005.34 crore, respectively.
According to the focus paper, the Micro, Small and Medium Enterprise sector has a credit potential of Rs 60,001.27 crore, accounting for 44.56 percent of the priority sector’s total credit potential.
In addition, according to the study, export credit, education, housing, renewable energy, and social infrastructure make for roughly 16.79 percent of Odisha’s credit potential.