NABARD Projects Rs 4.40 Lakh Crore Priority Sector Lending for FY 2025-26 in Rajasthan
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Synopsis
NABARD unveiled its State Focus Paper for FY 2025-26, projecting a priority sector credit potential of Rs 4.40 lakh crore for Rajasthan, emphasizing integrated rural prosperity and collaboration among stakeholders.
Key Takeaways
- Projected credit potential of Rs 4.40 lakh crore.
- 22% increase over last year.
- 47% allocated for agriculture.
- 150 new warehouses for better storage.
- Collaboration among stakeholders emphasized.
Jaipur, Feb 12 (NationPress) NABARD convened the State Credit Seminar for FY 2025-26 on Wednesday to unveil the State Focus Paper (SFP) aimed at promoting integrated and sustainable rural development in Rajasthan.
The SFP forecasts a priority sector credit potential of Rs 4.40 lakh crore for FY 2025-26 in the state, marking a 22% increase from the previous year's estimates. This document encapsulates the realizable potential in both physical and financial dimensions at the district level.
The Minister of State (Independent Charge) for Cooperatives and Civil Aviation, Gautam Kumar Dak, officially launched the State Focus Paper, alongside Manju Rajpal, IAS, Principal Secretary-Cooperation, Balraj Singh, VC, SKNAU, Jobner, Tikam Chand Bohra, IAS, MD-RAJFED, and Rajiv Siwach, CGM NABARD.
During his speech, the Minister of State for Cooperation underscored the importance of NABARD's credit planning and the proactive preparation of the State Focus Paper ahead of the upcoming financial year.
He urged banks, line departments, and other stakeholders to collaborate effectively to meet the goals outlined in the State Focus Paper by NABARD. The minister acknowledged NABARD's significant contributions to strengthening the cooperative sector through computerization, training initiatives, and financial assistance to cooperatives.
He noted that NABARD has supported numerous projects in Rajasthan, which have substantially aided farmers and rural entrepreneurs. Manju Rajpal emphasized the significance of NABARD's State Focus Paper 2025-26 and praised NABARD's efforts to facilitate the computerization of Primary Agricultural Credit Societies (PACS), aiming for 5,000 PACS to be operational by May 2025.
Moreover, she recommended conducting additional training and orientation programs for PACS to help them grasp the objectives and Standard Operating Procedures (SOPs) of various schemes, ensuring effective implementation.
Additionally, she disclosed that 150 warehouses, with a capacity ranging from 500 to 1000 MT, are being established in the cooperative sector to enhance storage and procurement facilities throughout the state.
Rajiv Siwach, Chief General Manager of NABARD, revealed that of the total projected credit potential of Rs. 4.40 lakh crore, 47% is designated for agriculture and allied sectors, 45% for the MSME sector, and 8% for other priority areas like housing, education, and related domains.
He informed attendees that the credit potential outlined in the State Focus Paper will act as a benchmark for formulating the Annual Credit Plan for priority sector lending in the state for FY 2025-26.
The CGM emphasized the integration of stakeholders' inputs to close gaps through enhanced investment in agricultural infrastructure, collective agricultural production, value addition, and the establishment of Farmer Producer Organisations.
Throughout the seminar, the contributions of Primary Agricultural Credit Societies (PACS) in the computerization project and their role in grain storage initiatives, as well as the efforts of District Central Cooperative Banks in credit diversification and Farmer Producer Organisations in collectivization and developing scalable business models during 2024-25, were acknowledged and praised.
