News Desk, News Nation 360 : For priority sector lending in the state of West Bengal, NABARD has set a credit target of Rs. 3.80 lakh crore for the fiscal year 2025–2026. This is a 20.63% increase over the previous year. Chief General Manager P.K. Bhardwaj made this declaration at the State Credit Seminar, which took place at Hotel Lalit Great Eastern on February 28, 2025. NABARD formulates Potential Linked Credit Plans (PLPs) for each of the districts annually to set the stage for the State Focus Paper (SFP), to facilitate priority sector credit flow, by analyzing resource availability, credit trends, infrastructure, market opportunities, and government policies, with the SFP also focusing on infrastructure requirements and policy priorities for sustainable growth; at the State Credit Seminar, Prabhat Kumar Mishra, Additional Chief Secretary, Finance Department, handed over the SFP for 2025-26, in the presence of the state government's senior functionaries, RBI, SBI, and SLBC,
where the CGM of NABARD made a total estimated credit potential of Rs. 3.80 lakh crore for West Bengal's priority sector, with agriculture, including agri-infrastructure, contributing Rs. 1.27 lakh crore, stressing the necessity of concerted efforts on FPOs, climate resilience, and processing and marketing, with the help of adequate credit and synergy; Balbir Singh, GM, SLBC, valued the research work of NABARD in the agricultural sector, stressed the export potential in West Bengal, and stressed an appeal to exceed credit plan achievements, with the state government's senior functionaries and banking officials participating virtually to discuss and plan for the economic and social growth of the state. Prabhat Kumar Mishra, Additional Chief Secretary, Finance, GoWB, stressed in his keynote speech the importance of collaboration between NABARD, the State Government, and other stakeholders to tackle issues at the local level. Given the negative effects of climate change, he emphasised the significance of concentrating on sustainable development projects in the state. He recommended utilising the fisheries sector's export potential because of its substantial potential in West Bengal. Additionally, he highlighted the effectiveness of the SHG (Self-Help Group) model, which was first launched by NABARD, and commended NABARD's efforts in assessing the state's credit potential for FY 2025–2026. He suggested that more organisations of this type may be institutionalised.
Pic - Courtesy
