Assam can borrow Rs 45,957 cr in FY25: NABARD

Guwahati, Dec 21 (PTI) The National Bank for Agriculture and Rural Development (NABARD) on Thursday projected a credit potential of Rs 45,957 crore for Assam for the 2024-25 fiscal, a rise of 16 per cent from the year-ago period.

During a state credit meeting, a State Focus Paper prepared by NABARD was released, an official statement said.

“NABARD projects credit potential of Rs 45,957 crore for the state of Assam for the financial year 2024-25, which was 16 per cent higher than the previous year,” it added.

Out of the total projected credit potential, Rs 21,529 crore is towards agriculture and allied activities, it said.

“Further, credit potential of Rs 19,012 crore has been projected towards MSME sector, while credit potential for informal credit — SHGs/JLGs — has been pegged at Rs 2,204 crore,” the statement added.

Potential to borrow in the housing and education sectors was projected at Rs 2,239 crore, NABARD said.

The State Focus Paper was brought out with an objective to assess the exploitable potential through credit dispensation by banks.

“As a credit planning document, it has been focusing on mapping of the sector-wise, activity-wise, overall potential for the absorption of credit and providing an overview of the agricultural economy of all the districts,” the statement said.

The State Focus Paper is expected to act as an input for the credit and infrastructure planning by bankers and the state government to prioritise the allocation of funds for development, it added.