ENA Sectors 2024-02-02 12:26:37 <p><span style="font-size:14px"><strong>Karnataka, Feb 2 (KNN) </strong>NABARD Chief General Manager, T Ramesh, disclosed that the priority sector lending potential in Karnataka for the financial year 2024-25 is poised to reach an impressive Rs 3.97 lakh crore, during the State Credit Seminar.</span></p> <p><span style="font-size:14px">This projection reflects a substantial 10.67 percent increase compared to the previous year.</span></p> <p><span style="font-size:14px">The credit potential encompasses three key sectors: agriculture, micro, small, and medium enterprises (MSME), and other priority sectors.</span></p> <p><span style="font-size:14px">Notably, the agriculture sector, encompassing agri-infrastructure and ancillary activities, holds a substantial share of Rs 1.85 lakh crore.</span></p> <p><span style="font-size:14px">Following closely is the MSME sector, contributing Rs 1.58 lakh crore, with other priority sector activities accounting for Rs 0.54 lakh crore.</span></p> <p><span style="font-size:14px">In response to the severe drought situation, NABARD has actively supported the State government's initiatives by providing financial assistance.</span></p> <p><span style="font-size:14px">A significant amount of Rs 990 crore has been allocated for 119 irrigation projects, and Rs 611 crore has been sanctioned for drinking water projects under the Rural Infrastructure Development Fund.</span></p> <p><span style="font-size:14px">Furthermore, Rs 290 crore has been earmarked under the Micro Irrigation Fund to promote sustainable irrigation practices in the ongoing year, as highlighted by Ramesh.</span></p> <p><span style="font-size:14px"><em><strong>(KNN Bureau)</strong></em></span></p> 36531 https://knnindia.co.in/news/newsdetails/sectors/rs-397-lakh-crore-priority-sector-lending-potential-in-karnataka-nabard 2024-02-02 12:26:37 knnindia.co.in