NABARD to look beyond paddy cultivation and credit linkage in Odisha

BHUBANESWAR: Chief General Manager of NABARD C Udayabhaskar on Tuesday said the financial institution will focus on remunerative activities beyond paddy cultivation and credit linkage for paddy procurement during the 2022-23 fiscal.

Speaking at the institution's 41st Foundation Day, he said FPOs, Nabard has projected an overall credit potential of Rs 1.35 lakh crore for the year and the priority will be given on farmer producer organisations (FPOs), developing micro entrepreneurs, doubling of bank credit to SHGs, doubling of farmers' income, climate change and promotion of producers' organisations dealing with handloom and handicraft items.

NABARD has been a major partner of the State government in its developmental endeavors. Its financial support to the government, banks and corporations in Odisha has touched Rs 31,786 crore in 2021-22. Finance Minister Niranjan Pujari appreciated NABARD for its contributions to rural development and constant support and active involvement in the development of various sectors in the State.

"The State is a major beneficiary of its initiatives like Rural Infrastructure Development Fund (RIDF), Watershed Development Fund (WDF), Self Help Group - Bank Linkage Programme (SHG-BLP) and others, which complement the developmental initiatives," he said. 

Citing that the government has been successfully implementing various schemes like BALARAM, KALIA, SAMRUDHI and Millet Mission, Minister for Agriculture and Farmers' Empowerment, Fisheries and Animal Resources Development Ranendra Pratap Swain urged the banks to increase the credit flow for private capital formation substantially.