NABARD projects Rs 6 lakh crore credit outlay for priority sectors in Maharashtra Mumbai

The National Bank for Agriculture and Rural Development (NABARD) on Monday projected a credit outlay of Rs 6.13 lakh crore for priority sectors in Maharashtra in the next financial year.

A ‘State Focus Paper’ projecting a potential credit outlay of Rs 6,13,503 crore to priority sectors by NABARD was launched by Chief Minister Uddhav Thackeray at a state-wide credit seminar, according to an official statement.

The credit projections include estimations of Rs 1,43,019 crore (23 per cent) for agriculture, Rs 3,48,372 crore (57 per cent) towards MSME and Rs 1,22,112 crore (20 per cent) to other priority sectors, it said.

Possible ways of increasing credit outreach in the state, specially to small and marginal farmers, were discussed in detail at the seminar.

Deputy Chief Minister Ajit Pawar, Minister of Agriculture Dadaji Bhuse, Minister of Co-operation and Marketing Balasaheb Patil, senior officials from RBI, state government, commercial banks, regional rural banks and cooperative banks, among others, were also present.

Thackeray suggested the need for concerted action by state government departments, banks and NABARD for realising the credit potentials so as to increase farmers’ income.

He indicated the need for addressing the challenges posed by climate change and natural calamities, especially in Konkan region, through increased investment for climate proofing, as per the statement.