NABARD estimates Rs 34,421 crore credit potential for Chhattisgarh

The National Bank for Agriculture and Rural Development (NABARD) projected a credit potential of Rs 34421.38 crore for Chhattisgarh in the financial year 2020-21.

The State Focus Paper (SFP) that was released by Panchayat and Rural Development Minister T S Singhdeo at the state credit seminar on Wednesday noted that the theme for financial year 2020-21 had been "Hi-tech agriculture practices." 

NABARD Chief General Manager M Soren informed that the total credit potential for Chhattisgarh for the financial year 2020-21 is Rs 3977.59 crore ahead of previous year’s projection of Rs 30443.79 crore. Highlight of the credit potential for total agriculture sector for 2020-21 is projected at Rs 19579.13 crore, of which an amount of Rs 13227.37 crore has been assessed under crop production, maintenance and marketing.

Soren said that Rs 3383.35 crore had been assessed for term loans to agriculture sector for promoting capital formation while Rs 6351.76 crore (32.4 percent) had been earmarked for capital formation in agriculture and allied activities including Agri-infrastructure and ancillaries activities. For Micro, Small and Medium Enterprises (MSME) sector, a potential of Rs 10811.45 crore had been assessed for the FY 2020-21.

The credit projections under other priority sector including export, education, housing, renewable energy had been Rs 4030.80 crore. In order to empower women Self Help Groups (SHGs), NABARD would be digitising 42,842 SHGs under its flagship e-shakti programme. The project envisages improving the quality of book-keeping, transparency through real time updating of accounts, maintaining credit registry of SHGs and its members.