NABARD Projects Odisha’s Credit Potential At Rs 1.34 Lakh Crore For FY 2022-23

Bhubaneswar: The National Bank for Agriculture and Rural Development (NABARD) has forecast Odisha’s credit potential for financial year 2022-23 at Rs 1,34,665 crore.

As per the NABARD’s State Focus Paper for Odisha for 2022-23, released on Tuesday, the credit project for the state for 2022-23 is 21.61% more than Rs 1,10,735 crore of the previous year.

The agriculture sector is estimated to get the highest credit of Rs 52,050.78 crore (38.65 % more) of the total credit potential. Farm credit, which includes both crop loans and term loans for agriculture and allied sectors, is expected to be Rs 48,221.10 crore in the sector.

The credit potential for farm infrastructure and associated operations has been projected at Rs 1,824.33 crore and Rs 2,005.34 crore respectively.

The focus paper further said the Micro, Small & Medium Enterprise sector has a credit potential of Rs 60,001.27 crore, accounting for 44.56% of the entire priority sector.

Export credit, education, housing, renewable energy, others, and social infrastructure account for around 16.79% of the credit potential of Odisha, it added.