Nabard pegs priority sector credit potential for Telangana at ₹2.80 lakh crore

The National Bank for Agriculture and Rural Development (Nabard) has pegged a credit potential of ₹2.80 lakh crore for the priority sector for the financial year 2024-25, showing a whopping growth of 51 per cent over the last year’s projections. This includes a credit potential of ₹1.33 lakh crore for agriculture. 

“There is a potential for ₹81,478 crore for crop loans and agri term credit potential of ₹52,109 crore for allied sector. The credit potential for the micro-small and medium enterprises is pegged at ₹1.29 lakh crore,” Suseela Chintala, Chief General Manager (Telangana) of Nabard said.

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Total estimates

Of the total estimates, crop loans constituted 29 per cent, MSME (46 per cent) and Agri ancillary activities (7 per cent.)

“Since the formation of the State in 2014, the Nabard has propelled a credit flow of Rs one lakh crore, facilitating capital formation in agriculture through refinance to rural financial institutions,” she said.

“This apart, over ₹33,000 crore had been allocated for different infrastructure projects such as roads, bridges and education under the bank’s flagship Rural Infrastructure Development Fund and Nabard Infrastructure Development Assistance,” she said.

State focus paper

The apex bank has released the State focus paper for 2024-25 at a conference here on Tuesday. It was attended by Telangana Agriculture Minister Tummala Nageswara Rao, representatives of SLBC (State-Level Bankers Committee), the State Government and (Agricultural and Processed Food Products Export Development Authority) APEDA.

The CGM said that the potential for housing sector stood at ₹10,768 crore and education at ₹2,706 crore.

Nageswara Rao asked the ecosystem players, including SLBC constituent banks, cooperative banks and government officials to work in tandem to achieve the credit potential estimated by the Nabard.

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