Agri credit disbursement to cross Rs 1L crore in current fiscal, expects state
Times of India | 1 March 2025
123 Kolkata: Bengal govt is expecting agriculture credit disbursement in the current fiscal to exceed Rs 1 lakh crore. It already exceeded Rs 75,000 crore in the Dec quarter. Last fiscal, the figure was Rs 70,000 crore. This was disclosed by state agriculture secretary OS Meena at the State Credit Seminar 2024-25, organised by Nabard.
Earlier, Nabard in its presentation said that credit flow in agriculture, MSME, and other priority sectors had grown significantly in Bengal in the last 5 years.
Meena pointed out that the state was focusing on crops where there was a deficit, like oilseeds and pulses. "Oilseeds production doubled in the last few years. Now, it is 14 lakh tonne. Our target is to achieve self-sufficiency in oil seeds," he added. Meena also stressed the need for a reality check in credit delivery.
State finance secretary Prabhat Mishra said that the state would talk to Nabard on milk production in the western districts of the state where the weather is relatively dry. "In this zone, the scope of milk production is high," he added.
According to Nabard, MSME lending in the state in the last five years doubled, and the share of regional rural banks and cooperative banks in priority sector lending in the state is now 5%. Nabard has set a credit target of Rs 3.8 lakh crore for priority sector lending in Bengal for 2025-26, marking a 20.6% increase over the previous year. The announcement was made by Nabard chief GM PK Bhardwaj during the State Credit Seminar.
Kolkata: Bengal govt is expecting agriculture credit disbursement in the current fiscal to exceed Rs 1 lakh crore. It already exceeded Rs 75,000 crore in the Dec quarter. Last fiscal, the figure was Rs 70,000 crore. This was disclosed by state agriculture secretary OS Meena at the State Credit Seminar 2024-25, organised by Nabard.
Earlier, Nabard in its presentation said that credit flow in agriculture, MSME, and other priority sectors had grown significantly in Bengal in the last 5 years.
Meena pointed out that the state was focusing on crops where there was a deficit, like oilseeds and pulses. "Oilseeds production doubled in the last few years. Now, it is 14 lakh tonne. Our target is to achieve self-sufficiency in oil seeds," he added. Meena also stressed the need for a reality check in credit delivery.
State finance secretary Prabhat Mishra said that the state would talk to Nabard on milk production in the western districts of the state where the weather is relatively dry. "In this zone, the scope of milk production is high," he added.
According to Nabard, MSME lending in the state in the last five years doubled, and the share of regional rural banks and cooperative banks in priority sector lending in the state is now 5%. Nabard has set a credit target of Rs 3.8 lakh crore for priority sector lending in Bengal for 2025-26, marking a 20.6% increase over the previous year. The announcement was made by Nabard chief GM PK Bhardwaj during the State Credit Seminar.
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