NABARD projects Rs 1.72 lakh crore credit potential for Rajasthan

NABARD has projected an exploitable credit potential of Rs 1.72 lakh crore towards the priority sector lending by the banks in Rajasthan for the year 2017-18.

This is 14 percent higher than the credit projection made for the year 2016-17 by the National Bank for Agriculture and Rural Development (NABARD).

The credit potential was indicated in the 'State Focus Paper' released by the state Chief Secretary Om Prakash Meena at the State Credit Seminar organised by NABARD, Rajasthan Regional Office here.

"The State Credit Plan was prepared with an aim to double farmers income by 2022 as envisaged by the Prime Minister. Three new chapters on Doubling of farmers' income by 2022, Skill Development and Climate Change were included in the State Focus Paper for 2017-18," Sarita Arora, Chief General Manager, NABARD said.

Agriculture sector, including, agriculture infrastructure and ancillary activities accounts for 71 percent of the total credit potential, while the Micro, Small and Medium Enterprises (MSME) sector and other priority sectors account for 18 percent and 11 percent respectively.

Arnab Ray, Regional Director Reserve Bank of India, N C Upreti, General Manager, Bank of Baroda and senior officials from major Commercial Banks, Regional Rural Banks and Cooperative Banks were present in the Seminar.