Panaji
National Bank for Agriculture and Rural Development (NABARD) has assessed a potential for extending credit to the Goan priority sector to Rs 6,094 crores by the upcoming financial year 2016-17.
This was revealed at a seminar on state credit organised by NABARD in Panaji today. R.K. Srivastava, chief secretary of Goa, was the chief guest at the seminar, which was also presided over by B.B. Sethi, general manager, Goa, NABARD.
At Rs 6,094 crores, potential bank credit to priority sector stands 21% more than the previous year. A large chunk amounting to 48% of total projected amount is likely to be extended to micro, small and medium enterprises (MSMEs), which is in line with ‘Make-In-India’ campaign announced by Prime Minister Narendra Modi.
Of the total projected amount, 14% will also go to agriculture sector. At the seminar, it also emerged that NABARD feels that capital formation in and around agriculture is a cause of concern in Goa. Under this, cultivation of black pepper in Sattari, Bardez, Ponda and Sanguem has been identified as a focus area.
