Odisha's Priority Sector Credit Potential Pegged At Rs 66k Cr

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Bhubaneswar: Overall credit potential for Odisha under priority sector is projected at over Rs 66,554 crore for 2017-18 even as the state government today asked banks to enhance credit flow to agriculture.

The total credit potential under agriculture and ancillary activities for 2017-18 was projected at Rs 36,122.64 crore in the State Focus Paper released at the State Credit seminar conducted by NABARD here.

The overall credit potential of Rs 66,554.51 crore in priority sectors is around 13 per cent more than that of 2016-17.
The State Focus Paper for 2016-17 envisaged total priority sector credit potential of around Rs 58,882 crore, an official release said.

Inaugurating the seminar, Odisha Chief Secretary Aditya Prasad Padhi urged the banks to enhance their credit flow to agricultural sector in 2017-18 for realisation of the budget objectives announced by the Centre, it said.

The Chief Secretary also emphasised on extension of credit to skilled youth who opt for self employment.

Further, Padhi asked lenders to link Primary Agricultural Cooperative Societies (PACS) with the electronic fund transfer system of the banks so that PACS could to some extent provide the banking services, particularly to unbanked.

The Chief Secretary said that steps are being taken to computerise 2,700 PACS and expressed the hope that by end of March 2017, all PACS would be computerised.

After computerisation, linking of PACS with electronic fund transfer system of the banks would go a long way in extending agricultural credit to the farmers.

In his welcome address, K C Panigrahi, Chief General Manager, NABARD, said the document assesses infrastructure available and planned and is used as a referral document for planning infrastructure and credit dispensation.

The document provides inputs to government departments, various organisations/entities and banks in formulation of their policies and programmes for ensuring enhanced credit flow.

He also said that credit projections for Odisha for 2017-18 at Rs 66,554 crore is based on the potential assessed under various sectors and sub sectors in all agro climatic zones of the state. He solicited cooperation of state government, banks and other stakeholders towards for achieving the potential.

Addressing the seminar, Development Commissioner R Balakrishnan urged NABARD to work with government so that the ultimate objective of catering to real need of farmers could be achieved.

Principal Secretary, Finance, Tuhin Kanta Pandey emphasised that corporate credit plan of each bank should be designed in tune with State Credit Plan.

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