NABARD projects Rs 1,87,354cr credit potential for Guj in FY21

The National Bank for Agriculture and Rural Development (NABARD) has projected a credit potential of Rs 1,87,354.76 crore for Gujarat in the financial year 2020-21.

NABARD's 'State Focus Paper' was released by Chief Minister Vijay Rupani at a seminar organised in Gandhinagar.

According to the paper, NABARD's credit potential projection for 2019-20 was Rs 1.54 lakh crore.

For 2020-21, NABARD has estimated category-wise credit potential estimations of Rs 95980.59 crore for agriculture, Rs 72017.77 crore for MSME and Rs 19356.40 crore for other priority sectors (total Rs 1,87,354.76 crore), said the document.

The State Focus Paper has been drawn up based on the Potential Linked Credit Plans (PLPs) for 2020-21 of all the 33 districts of the state.

Speaking at the seminar, which was also attended by Deputy Chief Minsiter Nitin Patel and Agriculture Minister R C Faldu among others, Rupani called upon banks and other stakeholders to achieve the credit projections identified by NABARD.

"The Chief Minister also sought NABARDs support in providing drinking water to every rural household through Nal Se Jal Tak scheme," the central government-owned financial institution said in a release.

D K Mishra, Chief General Manager, NABARD, Gujarat, informed that the bank is undertaking a host of grant-based developmental initiatives in the state.

"NABARD is working to strengthen and widen the network of Farmers Producer Organisations (FPOs) in the state and bring more small and marginal farmers under the ambit of structured marketing, value addition and input procurement," he said.

"NABARD also aims to bring more self-help groups under bank credit through its E-Shakti portal which facilitates uploading transaction data of SHGs on a real-time basis," Mishra said.