The National Bank for Agriculture and Rural Development (Nabard) on Tuesday released its State Focus Paper (SFP) 2014-15 highlighting an overall credit potential of Rs36,959.92 crore for priority sectors in Odisha during 2014-15. The SFP was unveiled at a State Credit Seminar (2014-15) organised by the bank here.
The SFP is broadly based on ‘Revival, Reconstruction and Risk Mitigation’ to give focused attention to rehabilitation measures, reconstruction and mitigation of risks in the wake of the recent devastations brought by the twin natural calamities of cyclone Phailin and floods in the State.
The Ground level Credit (GlC) flow for agriculture (crop loan, term loan and allied agriculture taken together), which was Rs1,316 crore in 2003-04, increased to Rs10,454 crore in 2012-13 and in 2014-15 the credit potential in the agriculture sector jumped to Rs19,193 crore.
According to Nabarad Chief General Manager SK Kale, the credit flow over the years has been showing an increasing trend which is an encouraging feature, but keeping in view the growth potential in the agriculture sector in the State, the pace of credit flow needs to be accelerated. Banks need to be geared up and come out with a strategy to improve the GlC flow to the agriculture sector in particular, he added.
Kale also mentioned about the Nabard’s initiatives to build 544 godowns in the State, development of rural infrastructure, core banking, helping in crop loan disbursement, cooperating with grassroots level organisations like SHGs and planning exercises to address natural calamities in the State. Besides agriculture credit support, the bank offers a helping hand to provide livelihood support for farmer’s families, he added.
Speaking at the seminar, State Finance Secretary UN Behera said the SFP would help the State Government in preparing its next Budget. “We should be more ambitious about the target and the banks should increase the credit plan which would help the State,” he said.
Among others, Reserve Bank of India General Manager RlK Rao, State Bank of India Chief General Manager KM Trivedi, Odisha University of Agriculture and Technology Vice-Chancellor Prof Manoranjan Kar and senior bankers were present.