MUMBAI, 22 February 2022: The National Bank for Agriculture and Rural Development (NABARD) in its state focus paper on Monday has projected a potential credit outlay of INR 6.13 lakh crore to priority sectors in Maharashtra during 2022-23 against INR 5.95 lakh crore for 2021-22.
The state focus paper was released by Chief Minister Uddhav Thackeray in the presence of Deputy Chief Minister Ajit Pawar, Cooperation Minister Balasaheb Patil, Agriculture Minister Ddaji Bhuse and officers from the RBI, NABARD, MD & CEO of Bank of Maharashtra.
The Chief Minister’s Office in a statement said the credit projections include estimations of INR 1,43,019 crore (23 per cent) for agriculture, INR 3,48,372 crore (57 per cent) towards MSME and INR 1,22,112 crore (20 per cent) to other priority sectors. Possible ways of increasing credit outreach in the State, specially to small and marginal farmers were discussed in detail, said a NABARD release.
The CM 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 the Konkan region, through increased investment in climate-proofing. He called for more financial assistance from NABARD for promoting various rural infrastructure facilities in the state and also a long term plan for the same.
The Cooperation minister emphasised the need for fresh credit from banks to eligible farmers covered under State’s debt Waiver Scheme. On the other hand, the Agriculture minister made a strong case for convergence under the various flagship programs of the State Government and expressed the need for providing adequate and timely credit to farmers and self-help group (SHG) women.
NABARD CGM GS Rawat highlighted the various interventions of NABARD in the State through refinancing, developmental programs and infrastructure building, that have improved the credit absorption capacities of rural masses. He also suggested various measures like separate Farmers Producers Organisation (FPO) policy, promotion of integrated farming models and timely execution of rural infrastructure projects in the State for addressing issues faced by small and marginal farmers.
