ITANAGAR, 8 Mar: The NABARD’s state focus paper (SFP) has estimated the ‘exploitable’ credit potential for priority sectors in the state for 2022-23 at Rs 846.46 crores as against Rs 784.59 crores during 2021-22.
The SFP highlighted that the priority sector advances in the state have the potential to grow by more than 7.88 percent in the current year.
Releasing the SFP during the NABARD’s ‘state credit seminar 2022-23’ at a city hotel here on Tuesday, Chief Secretary Naresh Kumar said that “the state government is intent upon a very ambitious plan to support the livelihoods of the people.”
He sought better support from all the banks in this regard, and highlighted the need for “evolving cluster-based approach for development of bank credit.”
Expressing concern that, “although the financial resources were available from different sources, the execution of projects lagged behind, resulting in poor utilisation against the allocations of fund,” the CS commended the NABARD, saying that “it is a very active and progressive developmental partner of the state government.”
NABARD General Manager Partho Saha said that “the estimated Rs 846.46 crores credit potential has 60 percent projections under the agriculture sector.”
He pointed out that “the capital region-centric credit flow has left all the other districts in the credit starved category.”
“There was also sectoral imbalance as only 10 percent of the credit flow was towards agriculture during 2020-21,” he said.
Expressing concern over the low CD ratio and underperformance of the financial institutions, Saha said that fulfilling the infrastructure gaps is critical for enhanced credit flow to the state.
SLBC convenor DK Mahato informed that “the per capita deposits as well as advances are the highest in Arunachal Pradesh amongst all the NER states.” He said that the banks would do their best to “achieve the credit projections.”
APRB Chairman Deepak Gupta said that the government should make allocations towards the CM Krishi Rinn Yojana and livestock insurance.
The district-wise credit potential aggregated at the state level by the NABARD, which formed the major content of the SFP, was presented in the seminar.
The SFP also underscored the support required from various development agents and the government in “order to realise the potential estimates.”
“However, most importantly, the bankers needed to be proactive in providing credit support to farmers and entrepreneurs for capital formation as well as working capital requirements,” the SFP said.
The NABARD also celebrated the International Women’s Day. The ‘Women of Substance’ awards were given away to SHG enterprises and women entrepreneurs associated with the development interventions of the NABARD.
