Guwahati: Focusing on the priority sector with the objective of ensuring integrated and sustainable rural prosperity in the State, state-owned development banker NABARD today projected a credit potential of Rs 36,292 crore for Assam for the financial year 2022-23.

The credit potential figure is 12 percent higher than the previous year, according to a press release.

National Bank for Agriculture and Rural Development (NABARD), during its State Credit Seminar held here today, launched the State Focus Paper for FY2022-23, which is the consolidated account of exploitable district-wise realistic potential, both in terms in the State of Assam. The State Focus Paper was released by Ajanta Neog. Finance Minister, Govt of Assam, in the presence of Additional Chief Secretary PK Borthakur, Regional Director, RBI, Sanjeev Singha, and CGM, SBI, RS Ramesh.

Of the total projected credit potential, as much as Rs 18,755 crore (52 percent) is towards agriculture and allied activities, Rs 12,952 crore (36 percent) towards the MSME sector, Rs 1,388 crore for informal credit (SHGS/JLGS), and Rs 3,197 crore for housing, education and other sectors. The credit potential estimated in the State Focus Paper will be used as a base for the preparation of the Annual Credit Plan for priority sector lending in the State by financial institutions for the year 2022-23.

Baiju Kurup, Chief General Manager, NABARD, informed upon the credit demand at the grassroots level, besides taking cognizance of the policy interventions and programmes initiated by NABARD, financial institutions, the State as well as Central governments in various sectors.

He further said that expert's views were taken into account for meeting the gap in augmenting productivity by way of Agri reforms, transformation, post-harvest management, collectivization of agricultural produce, value-addition, and organizing farmers into Farmer Producers' Organisation (FPO), which may help in creating local-level commodity-specific value chains to enable small and marginal farmers realize optimal value for their produce through better price discovery mechanisms

During the credit seminar. awards were also distributed to best functioning SHGs and in SHG and JLG activities and the best implemented Tribal Development Project.