Haryana's Impressive Rs 3.14 Lakh Crore Credit Initiative for 2025-26 Announced
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Synopsis
The National Bank for Agriculture and Rural Development (NABARD) has identified a credit potential of Rs 3.14 lakh crore for Haryana in 2025-26, representing a 37.64% increase from last year, focusing on key sectors like agriculture and MSMEs.
Key Takeaways
- NABARD assesses Rs 3.14 lakh crore credit potential for Haryana.
- 37.64% increase in priority sector lending compared to last year.
- Key sectors include agriculture (35.60%), MSMEs (57.12%), and education/renewable energy (7.28%).
- Chief Secretary emphasizes collaboration among stakeholders.
- Haryana Government's initiatives align with NABARD's vision.
Chandigarh, Jan 30 (NationPress) The National Bank for Agriculture and Rural Development (NABARD) has evaluated a credit potential of Rs 3.14 lakh crore, marking a notable rise of 37.64 percent compared to the previous year in the area of priority sector lending in Haryana for 2025-26.
The distribution of credit potential across various sectors is as follows: 35.60 percent for agriculture, 57.12 percent for MSMEs, and 7.28 percent for other priority sectors such as education and renewable energy.
The State Focus Paper (SFP) was unveiled by Chief Secretary Vivek Joshi during the State Credit Seminar 2025-26, attended by Nivedita Tiwary, Chief General Manager of NABARD, alongside senior bank officials, state government representatives, and members of the academic community.
During the event, the Chief Secretary praised NABARD’s initiative to assess the credit potential in agriculture, MSMEs, exports, education, and renewable energy, which aligns with the government’s vision for farmers’ welfare and rural development. He emphasized the importance of crop diversification, climate-resilient agriculture, shrimp farming, and the promotion of vegetable clusters.
He called for a collaborative approach among banks, government departments, NABARD, academic institutions, and other stakeholders to enhance job opportunities in rural areas.
The Chief Secretary stated that the SFP will serve as a benchmark and guiding force for initiatives aimed at fortifying the rural economy.
“Haryana has consistently been a leader in agriculture, playing a crucial role in India’s food security. Our farmers, through their tireless efforts, have transformed Haryana into the 'bread basket of India'. Nonetheless, we must confront challenges such as dwindling groundwater, fragmented landholdings, the growth of the MSME sector, and climate change, which necessitate immediate and innovative solutions,” remarked Joshi.
He assured that the Haryana Government is fully aligned with NABARD’s vision. “We are implementing programs like micro-irrigation schemes, financial literacy initiatives, and digital projects to improve access to credit and markets. I encourage the banking sector to take a proactive stance in meeting the credit goals set for priority sectors and to ensure that marginalized regions and communities are not overlooked,” the Chief Secretary emphasized.
NABARD’s Chief General Manager, Nivedita Tiwary, elaborated on the consultative process leading to the identification of a credit potential of Rs 3.14 lakh crore for the state, synthesizing the potential from the Credit-linked Plans for all 22 districts of Haryana.
She stressed the importance of integrating the credit potential outlined for each district by NABARD with the District Credit Plan created by lead banks.
