NABARD estimates Credit Potential of Odisha at
Rs.2,52,000 crore for 2025-26State Credit Seminar 2025 held
Bhubaneswar dt. 15/02/2025
NABARD conducted the State Credit Seminar for 2025-26 today on 15th February 2025, in which the State Focus Paper for Odisha was released, projecting an overall credit potential lunder Priority Sector at Rs.2,52,000 crore for the year 2025-26.
The seminar was inaugurated by Shri Kanak Vardhan Singh Deo, Hon’ble Deputy Chief Minister, Government of Odisha and was also attended by Shri Manoj Ahuja, IAS, Chief Secretary,Shri Rajesh Prabhakar Patil, IAS, Commissioner-cum- Secretary, Cooperation Department and Shri Goutam Patra, Convenor, SLBC in the presence of controlling Heads of Banks, officials from State Government departments, stakeholders, farmers & SHG members from various districts from Odisha.
Dr. Sudhanshu K K Mishra, CGM NABARD viewed that, concerted effort is needed for increasing the credit flow to priority sector with focus on agriculture and allied sector in particular. He informed that NABARD has set the priority sector target for 2025-26 at Rs.2,52,000 crore. He stressed upon strengthening of PACS for building a strong ecosystem for business and income generating activities. He spoke about increasing the credit outreach amongst the rural masses. He also said that NABARD has been increasing its support for Odisha State under the rural infrastructure development, tribal development, watershed development and micro entrepreneurship development among SHG women and other developmental activities leading to growth in the rural livelihood.
Inaugurating the seminar, Shri Kanak Vardhan Singh Deo, Hon’ble Deputy Chief Ministerand the Chief Guest on the occasion, congratulated NABARD for completing the Credit planning exercise on time and emphasized upon the need for increasing the Bank credit for Priority sector in Odisha as Govt. too has been actively supporting through various schemes and it is time for Banks to increase the credit flow for private capital formation substantially in the State. The Government has been creating the enabling infrastructure and investment in the state for effective growth in agriculture sector whereby the banks have to provide credit for the economic benefits to percolate to the farmers. He appreciated NABARD’s role in development of SHGs and sustained support in skilling of young women through its grant-based skill and entrepreneurship development programs. He stressed upon the need of credit at ground level and strengthening of FPO ecosystem for socio-economic development. He urged bankers to come forward to finance value chains, innovative new-age projects for furthering the development of agriculture sector and increasing the income of farmers.
Shri Manoj Ahuja, IAS, Chief Secretary said that Odisha has been growing faster and better and Banks have to improve the quality of lending. He advised all Stakeholders that efforts have to be put to achieve the current year targets. He said demand needs to be created at grass roots level and KCC needs to be broad based to support allied activities. He also said that start-ups also need credit and Banks have to come forward. He said that the allied sectors such as dairy, goatery, fisheries, etc, have tremendous potential in the State and Banks have to increase the credit flow to the sector.
Shri Rajesh Prabhakar Patil, IAS, Commissioner-cum-Cooperation Secretary appreciated NABARD for its TDF, WADI and JLG financing Project in interior of Rural India. He added that the State Govt’s focus is towards livelihood and cooperation sector, which will increase multifold in coming months. He added that the credit flow from Banks to the priority sector in Odisha needs lot of urgent improvement and attention. He asked all Banks to achieve the set targets and increase the bar. He advised banks and line departments to introspect, revisit and strategize required for upscaling the credit flow and for removing the operational impediments in the growth of credit to the priority sector.
NABARD estimates Credit Potential of Odisha
