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January 30, 2020

NABARD projects Bengal’s credit potential at Rs 1,91,289 cr

NABARD projects Bengal’s credit potential at Rs 1,91,289 cr

The National Bank for Agriculture and Rural Development (NABARD) has projected Bangla’s agriculture sector as a priority sector having a credit potential of Rs 1,91,289 crore for FY 2020-21, which is 29.25 per cent higher than the State’s Rs 1,48,000 crore credit plan for the current fiscal. This is part of NABARD’s state focus paper for 2020-21, which was unveiled recently.

Credit potential is a reflection of the demand for credit emanating from the grassroots, given the state of infrastructure in the State. Of the next fiscal’s credit potential, the micro, small and medium enterprises (MSME) sector constitutes 42.39 per cent, agriculture, 40.3 per cent, self-help group (SHG), 8.26 per cent, housing sector, 5.03% and the balance divided among education loans, social infrastructure and renewable energy.

While releasing the report, the chief general manager of NABARD in Kolkata said that agricultural credit has doubled in Bangla over the last five years.

Source: The Economic Times