The National Bank for Agriculture and Rural Development (NABARD) has projected a credit potential of Rs 36,292 crore for Assam for financial year 2022-23, officials said on Wednesday.
NABARD officials said that the projected credit potentiality for the next financial year is 12 per cent higher than the current fiscal (2021-22), as it released the state focus paper consolidating exploitable district wise realistic potential, both in physical and financial terms, in Assam.
Focusing on the priority sector and with the objective of ensuring integrated and sustainable rural prosperity in the state, the NABARD said that out of the total projected credit potential of Rs 36,292 crore, Rs 18,755 crore (52 per cent) is towards agriculture and allied activities, Rs 12, 952 crore (36 per cent) is towards MSME sector, Rs 1,388 crore for informal credit – Self Help Groups, Joint Liability Groups -and Rs 3,197 crore for housing, education and other sectors.
An official statement said that the credit potential estimated in the state focus paper will be used as a base for preparation of the annual credit plan for priority sector lending of the state by financial institutions for 2022-23.
NABARD Chief General Manager Baiju Kurup said that Wednesday’s discussion deliberated upon the demand of credit at the grass root level besides taking cognisance of the policy interventions and programmes initiated by NABARD, financial institutions, the state as well as Central Governments in various sectors.
The state focus paper was released in Guwahati by Assam Finance Minister Ajanta Neog in presence of Additional Chief Secretary P.K. Borthakur, Reserve Bank of India’s Regional Director Sanjeev Singha and State Bank of India Chief General Manager R.S. Ramesh.