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Chief Minister releases NABARD’s State Focus Paper 2023-24 in Gandhinagar

State focus paper presenting a potential credit estimate of Rs 2.98 lakh crore in the priority sector during the year 2023-24

Credit potential estimated of Rs 1.28 lakh crore for agri-allied sectors Rs 1.42 lakh crore for MSMEs

NABARD’s estimate of credit potential for potential sectors is commendable: CM

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Gandhinagar, Thursday: Gujarat Chief Minister Shri Bhupendra Patel released the State Focus Paper showing the overall annual credit potential of the National Bank for Agriculture and Rural Development (NABARD) for the year 2023-24 at the State Credit Seminar organized in Gandhinagar.

The overall annual credit potential assessed by NABARD for 33 districts of the state was prepared in consultation with relevant departments of the state government, banks and other stakeholders.

Finance Minister Mr. Kanubhai Desai, Minister of State for Cooperation Mr. Jagadish Vishwakarma, Minister of State for Agriculture Mr. Bachubhai Khabad also participated in the seminar.

The credit potential of the state for the year 2023-24 in the priority sector by NABARD has been shown at Rs 2.98 lakh crore, with agriculture and allied sectors accounting for Rs 1.28 lakh crore, MSME sector accounting for Rs 1.42 lakh crore.

Prime Minister Shri Narendrabhai Modi has promised to bring the lastmen, cattle rearers, fishermen into the mainstream by giving them extensive benefits of credit schemes. it is imperative that banks, including leading banks in the agri-rural development sector like NABARD, focus on lending more to them.

Shri Patel appreciated the estimate lending 43 percent of the entire priority sector of the state in agriculture sector and 47 percent to the MSME sector In this focus paper from NABARD. Various schemes of agri-rural development of the state and central governments can be successful only with the credit cooperation of banks. Banks are expected to cooperate extensively in such schemes.

NABARD Chief General Manager Shri Dr. Gyanendra Mani said about this document that it forms the basis for the annual credit plan prepared by the banks. The document also highlights sectoral issues and suggestions for realizing development potential.

Chief General Manager of State Bank of India Shri Surendra Rana appreciated the NABARD’s Focus Paper giving SBI’s contribution role in state priority sectors and other scheme credit-assistance etc.

This State Credit Seminar was attended by Chief Secretary Shri. Pankajkumar, Additional Chief Secretary of Home and Industries Department Shri Rajkumar, Additional Chief Secretary of Agriculture Shri. Mukesh Puri and Principal Secretaries-Secretaries of concerned departments and stakeholders of various banks.

Source: Information Department, Gujarat