NABARD Projects Rs 3.62 Lakh Cr Priority Sector Credit for FY25

Jaipur, Mar 5 (PTI) The National Bank for Agriculture and Rural Development (NABARD) has projected a priority sector credit potential of Rs 3.62 lakh crore for 2024-25.

This projection reflects a remarkable 32 per cent rise from its previous year's assessment, a bank official said Tuesday.

The announcement was made during the State Credit Seminar held today, where NABARD launched the State Focus Paper (SFP) for FY 2024-25.

The SFP serves as a consolidated document, outlining district-wise realistic potential in physical and financial terms for Rajasthan.

Akhil Arora, Additional Chief Secretary (Finance), officially released the State Focus Paper in the presence of key dignitaries.

Arora highlighted the role of NABARD and the banking fraternity as integral components of the development ecosystem.

He stressed the importance of empowering youth and strengthening the Agri and MSME sectors, pitching for collaboration between the government and banking sector to achieve the mission of a 'Vikasit Rajasthan 2047' in line with the 'Vikasit Bharat 2024' vision.

Rajiv Siwach, Chief General Manager, NABARD, provided insights into the credit potential distribution, revealing that Rs 1.88 Lakh crore (52 per cent) is allocated towards agriculture and allied activities, Rs 1.41 Lakh crore (39 per cent) towards the MSME sector, and Rs 3.24 Lakh crore (9 per cent) towards other priority sectors like housing, education, and related areas.