Nabard Prepares Rs 34,490 Cr Credit Scheme for Agri, MSMEs

Shimla, Jan 31 (PTI) A credit potential scheme of Rs 34,490 crore has been prepared by Nabard for agriculture, MSMEs and other priority sectors in 2024-25, Himachal Pradesh Chief Minister Sukhvinder Singh Sukhu said on Wednesday.

The scheme's allocation is 8 per cent higher than the current fiscal, he added.

Inaugurating the State Credit Seminar for the financial year 2024-25 organised by Nabard, he said the National Bank for Agriculture and Rural Development has a major role in making Himachal Pradesh self-reliant.

"I urge banks to extend their active support in providing loans for proper implementation of schemes so that farmers, horticulturists and youth can avail maximum benefits of these schemes.

"As per a Reserve Bank of India (RBI) report, none of the districts of the state falls in the category of 'credit deficient' districts. Although the credit flow in these districts is normal, the loan-to-deposit ratio of the state is 36.39 per cent," the chief minister said in a statement issued here.

He also expressed concern over the 'loan to deposit ratio' in Bilaspur, Hamirpur, Kangra, Mandi, Una, Lahaul-Spiti, and Chamba is consistently less than 40 per cent.

"Climate change affected Himachal as well, but to cope with these conditions, the state government has taken many steps. Green Industry and e-vehicles are being encouraged in the state in a big way so that dependence on fossil fuels can be reduced," he noted.

The state government will also commence schemes to strengthen the rural economy, and efforts are afoot to promote natural farming, he added.