NE BUSINESS BUREAU
GANDHINAGAR, JAN 19
The National Bank for Agriculture and Rural Development (NABARD) has projected Gujarat’s overall credit potential for the financial year 2023-24 at Rs 2.98 crore under the Priority Sector. The projection was in the NABARD’s state focus paper for Gujarat, which was released on Thursday.
Chief Minister Bhupendra Patel released the State Focus Paper 2023-24- the Annual document prepared by NABARD that aggregates credit potential for priority sector assessed for the 33 districts in the State. He urged banks to enhance their credit ratio to priority sectors.
The Chief Minister also unveiled a booklet containing the Success Stories of PACS from Gujarat that have benefitted from “PACS as MSC” scheme of NABARD.
The Chief Minister commended the efforts of NABARD in preparing a well-researched document dedicated to the idea of enabling growth of priority-sector credit in the State.
- Chief Minister Bhupendra Patel releases the State Focus Paper 2023-24
- Chief Minister also unveils a booklet containing the Success Stories of PACS from Gujarat that have benefitted from “PACS as MSC” scheme of NABARD
- Concerted efforts need to be made for achieving the set targets for the current financial year and increasing the credit flow to priority sectors: Dr Gyanendra Mani, chief general manager, NABARD, Gujarat Region.
“The Government is working relentlessly to reach the poorest of the poor of the society and bring them to the mainstream. I urge the bankers to help the fisheries and dairy farmers of the State by providing them credit facilities. I assure the bankers that issues, if any, in financing these categories of farmers who cannot provide collateral may be sorted out in consultation with the State Government. I am confident that the concerted efforts of Government, Banks and other stakeholders shall help the State to achieve the goals set by Prime Minister Narendra Modi for the ‘Amrut Kal’,” Chief Minister Bhupendra Patel said.
“NABARD has estimated a credit potential of Rs.2.98 lakh crore for the year 2023-24 under the Priority Sector, an increase of 20 percent over the previous year. Out of this, agriculture and allied sector accounts for Rs.1.28 lakh crore (43%), MSME sector accounts for Rs.1.41 lakh crore (47%) and other priority sector accounts for Rs.0.29 lakh crore (10%),” Dr Gyanendra Mani, chief general manager, NABARD, Gujarat Region, said.
Dr Gyanendra Mani said that concerted efforts need to be made for achieving the set targets for the current financial year and increasing the credit flow to priority sectors.
Terming Gujarat as the “Growth Engine of the Nation”, the CGM highlighted the Government of Gujarat’s initiative of making Modhera as Country’s first village to be Solar-Energy powered, all-day.
“ NABARD Gujarat Regional Office has pioneered the idea of “Model Cooperative Village (MCV) Project”, in partnership with Gujarat State Cooperative Bank. Union Cooperation Minister Amit Shah launched this project on April 10, 2022, -aimed at improving viability of cooperatives through technological, financial and other such measures. I request the State Government to advise various line departments to adopt 6 villages chosen for the MCV project & leveraging their various interventions in these villages, Mani added.
He emphasized that due support towards value-chain financing in agriculture, promotion of economic clusters, etc. from Banks and State Government, will enable inclusive development as well as expansion of agri-credit led rural investment.
Surender Rana, Chief General Manager, State Bank of India speaking on the occasion appreciated the efforts of NABARD in bringing out the valuable document and giving new dimensions to Agriculture Financing.
Kanubhai M Desai, Finance Minister; Bachubhai M Khabad, Minister of State, Agriculture; Jagdish I Vishwakarma, Minister of State, Cooperation; Pankaj Kumar IAS, Chief Secretary; Rajkumar IAS, ACS Home Department; Mukesh Puri, IAS, ACS Agriculture, Farmers’ Welfare and Cooperation Department; and senior Government Officials, Senior Bankers and Representatives from NGOs were present at the event..
