NABARD projects Odisha's credit potential for FY2022-23 at Rs 1.34 lakh cr

BHUBANESWAR: Officials said on Tuesday that the National Bank for Agriculture and Rural Development (NABARD) has forecast Odisha's credit potential for the financial year 2022-23 at Rs 1,34,665 crore.

The credit project for 2022-23 is Rs 1,10,735 crore, up 21.61 percent from the previous year. The NABARD's State Focus Paper for Odisha for the year 2022-23, which was released here on Tuesday, revealed this.

The agriculture industry has been appraised for the greatest amount of Rs 52,050.78 crore (38.65 percent) of the total credit potential for the priority sector. Farm credit, which includes both crop loans and term loans for agriculture and allied sectors, is expected to flow Rs 48,221.10 crore (92.64 percent) in the agriculture sector. In addition, the credit potential for farm infrastructure and associated operations has been projected to be Rs 1,824.33 crore and Rs 2,005.34 crore, respectively.

The Micro, Small & Medium Enterprise sector has a credit potential of Rs 60,001.27 crore, accounting for 44.56 percent of the entire priority sector. Export credit, education, housing, renewable energy, others, and social infrastructure account for roughly 16.79 percent of the entire credit potential in the priority sector.

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