National Bank for Agriculture and Rural Development has projected a 12 per cent increase in Assam's credit potential to Rs 36,292 crore for the 2022-23 fiscal, an official said on Saturday. Around 52 per cent of the total projected credit potential is estimated for the agriculture and allied activities, and a 36 per cent share for the MSME sector, according to a report – State Focus Paper for 2022-23- released by the rural development bank recently.
It will be used as a base for preparation of the annual credit plan for priority sector lending by financial institutions for FY23, the official said. In absolute terms, a credit potential of Rs 18,755 crore is projected for the agriculture and allied activities, Rs 12,952 crore for micro, small and medium enterprises, Rs 1,388 crore for the informal segment and Rs 3,197 crore for housing, educational and other sectors.
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NABARD Chief General Manager Baiju Kurup said a seminar was held recently where the demand for credit at the grassroots was deliberated upon, besides taking cognizance of policy interventions and programmes initiated in various sectors by the bank, other financial institutions, the state and central governments.
Expert views have also been taken into account to bridge the gap in augmenting productivity by way of agriculture reforms, post-harvest management, collectivisation of agricultural produce, value addition and organising cultivators through Farmer Producers' Organisations, he said.
This may help small and marginal farmers realise the optimal value of their produce through better price discovery mechanisms, the official said. "The State Focus Paper for 2022-23 is the consolidation of district-wise realistic potential, both in physical and financial terms. It focuses on the priority sectors to ensure integrated and sustainable rural prosperity," he added.
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