85% growth in agro-product exports in 6 Year: Minister Atul Bora

NABARD projects state's credit potential at Rs. 70,000 crore for FY 2025-26

GUWAHATI: The Annual State Credit Seminar for the Financial Year 2025-26 for the State of Assam was successfully conducted by the National Bank for Agriculture and Rural Development (NABARD) on Friday. The State Focus Paper (SFP), prepared by NABARD, was launched by Atul Bora, Agriculture Minister, Government of Assam, who graced the seminar as the chief guest. The SFP projects Assam's credit potential for FY 2025-26 at Rs. 70,284.78 crore, which includes Rs. 24,321.97 crore for agriculture, Rs. 39,744.92 crore for MSMEs, and Rs. 6,217.90 crore for other priority sectors, marking a 52.94% increase from the previous year's projection. The seminar saw the esteemed presence of Urkhao Gwra Brahma, Minister of Handloom, who attended the event as Guest of Honour.

The chief guest, Atul Bora, Agriculture Minister of Assam, in his address, underscored the importance of the State Focus Paper (SFP) for FY 2025-26 in aligning institutional credit with Assam's development priorities. He commended NABARD for its ongoing efforts to ensure credit access reaches the last mile, particularly for sectors crucial to the state's growth.

Bora highlighted the Priority Sector Lending (PSL) as a core component of India's financial inclusion strategy. He noted that for FY 2025-26, the PSL credit potential in Assam is estimated at Rs. 70,284.78 crore, with Rs. 24,321.97 crore allocated to agriculture and allied sectors. Focusing on agricultural challenges, Bora mentioned that rice is the dominant crop in Assam, and monocropping remains the prevalent practice. He emphasized that for the state to reach the Chief Minister's vision of being among the top five states in India, significant progress must be made in the agriculture and allied sectors.

The minister also stressed the critical role of agricultural credit in supporting farmers, particularly small and marginal farmers. He expressed concern over the decline in institutional credit to the sector and urged RBI, NABARD, and banks to work together to reverse this trend and boost agricultural credit in Assam. Further, Bora highlighted the Government of India's initiative for the saturation of Kisan Credit Card (KCC) holders under the Pradhan Mantri Fasal Bima Yojana (PMFBY) for the Kharif 2024 and Rabi 2024-25 seasons.

Loken Das, Chief General Manager (CGM) of NABARD's Assam Regional Office, delivered an impactful welcome address at the State Credit Seminar, emphasizing NABARD's key role in supporting sustainable agriculture and rural development in Assam. At the seminar, Urkhao Gwra Brahma, Handloom Minister of Assam, commended the partnership of the Government of Assam and NABARD in various sectors of rural infrastructure, agriculture, sericulture, and others. He announced that the Government of Assam is committed to supporting the weavers of Sualkuchi with a special initiative to provide yarn at a 30% subsidized rate to 4,299 weavers.

Nabin Kumar Roy, General Manager of NABARD Assam Regional Office, made a detailed presentation on the document. S. Radhakrishnan, Chief General Manager, SBI & SLBC Convener, also delivered a speech, thanking NABARD for conducting the seminar and preparing the SFP during the credit seminar, stated a press release.

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