NABARD estimates Odisha MSMEs credit potential at Rs 60,000 cr; occupies 44.56% of priority sector
Bhubaneswar, 17 Jan (KNN) In view of the credit potential under priority sector, the National Bank for Agricultural Development (NABARD) has made an overall projection of INR 1,34,665 crore for Odisha for the year 2022-23.
This year’s projection sees an increase of around 21.61% over credit projection of 2021-22.
For MSME sector, the credit potential has been gauged at INR 60,001.27 crore which constitutes around 44.56% of the total priority sector, as per NABARD.
The bank had estimated a credit potential of INR 48,221.10 crore, which constitutes around 38.65% of the total priority sector.
The state Finance Minister Niranjan Pujari pressed upon the need for increasing the bank credit for priority sector.
Speaking about this credit potential of 2022-2023 for the state of Odisha, C. Udayabhaskar Chief General Manager NABARD said, the bank has majorly increased their support for the infrastructure development, tribal development, watershed development and micro entrepreneur development.
“All of this will lead to developmental activities in the State,” he added.