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LATEST NEWS UPDATES | Nabard launches Rs 25,019 cr credit plan for Orissa

Nabard launches Rs 25,019 cr credit plan for Orissa

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published Published on Jan 8, 2011   modified Modified on Jan 8, 2011
In a bid to facilitate agriculture and rural development in the backward state, Nabard today launched a Rs 25,019 crore credit plan for Orissa during 2011-12.

The credit plan was launched by state Finance Minister Prafulla Ghadai at the state level credit seminar here. While annual credit plan for the state during the current fiscal is Rs 16,915 crore, it was increased by 48 per cent for 2011-12.

While agricultural sector has been allotted Rs 12,850 crore (51 per cent of the total credit plan), the allocation for the non-farm sector, which had a huge potential to generate livelihood opportunities, was Rs 2,602 crore.

With the state's about 5 lakh self-help groups (SHGs) leading in terms of SHG Bank Linkage programme, the credit plan for them was earmarked at Rs 2,662 crore. The amount would be financed to SHGs though banks.

Stating that the State Focus Paper (SFP) 2011-12 prepared by Nabard presented a comprehensive picture of potential available in the state for development of various sectors of rural economy, Nabard Chief General Manager (Orissa) C R Patnaik requested all banks and state government's line departments to make all efforts to translate it into ground level credit flow.

The total outlay for State Cerdit Plan is an aggregation of the Potential Linked Credit Plan (PLPs) for 2011-12 for all districts of the state, Patnaik said.

The SFP also highlights critical infrastructure gaps, linkage and support service required from line departments of the state government to facilitate credit flow to various potential sectors.

The Economic Times, 7 January, 2011, http://economictimes.indiatimes.com/news/economy/finance/nabard-launches-rs-25019-cr-credit-plan-for-orissa/articleshow/7236751.cms


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