Nabard pegs annual credit for Orissa at Rs 29,927 cr

The Annual Credit Plan for the state for 2012-13 has been pegged at Rs 29,927.41 crore. This is an increase of 20 percent over the credit plan of Rs 25,019.39 crore fixed for 2011-12.

Of the total plan of Rs 29,927.41 crore agriculture sector has been allotted Rs 14,838.91 crore which is about 60 per cent of the total credit plan. The sum allocated for the crop production is Rs 10,401.05 crore and Rs 4,437.85 crore has been earmarked for term investment in agriculture and allied activities.

The non-farm sector includes agro and food processing, a thrust area of the state government, has been allocated Rs 3,961.97 crore while other priority sectors have got Rs 11,126.54 crore. Out of the Rs 3,961.97 allocated to the non farm sector, Rs 1,676.67 crore , Rs 1,997.17 crore and Rs 288.11 crore have been apportioned to working capital requirement, investment credit and food and agro processing sector respectively.

The ground level credit flow achievement under annual credit plans has increased from Rs 7,484.49 crore in 2008-09 to Rs 11,142.88 crore in 2009-10 and Rs 17,111.55 crore in 2010-11. In 2010-11 the banks have achieved 101.23 per cent of the credit disbursement target of Rs 16,903.69 crore.

The total outlay for the state credit plan is an aggregation of the Potential Linked Credit Plans for 2012-13 prepared by the National Bank for Agriculture and Rural Development (Nabard) for all the districts of the state.

“Time has arrived to shift from the traditional method of farming to the mechanized methods of farming. The bankers should advance more credit to the farmers to encourage the production and productivity, “said Prafulla Chandra Ghadai, state finance minister at the State Credit seminar for 2012-13 organized by Nabard.

Taking at a dig at the bankers in the state, he said that bank managers in the state are not responding to the common man and urged the bankers to make efforts to meet them at the door steps.

Speaking on the occasion, B K Pattnaik, the state Chief Secretary urged the bankers to focus on the areas like agriculture and micro small and medium enterprises through the annual action plan so that the growth rate of more than nine per cent can be achieved in 12th five year plan.

KK Gupta, Chief General Manager, Nabard (Bhubaneswar) and RN Senapati, State Development Commissioner also spoke on the occasion.