The National Bank for Agriculture and Rural Development (NABARD) has projected a credit potential of Rs 2,43,093 crore for Bihar in the fiscal year 2024-25.
This estimate takes into account the Reserve Bank of India’s priority sector-based guidelines, as well as central and state government policies related to sustainable agriculture and rural development. The State Focus Paper 2024-25 for Bihar, which compiles the assessed credit flow across all 38 districts, was unveiled during NABARD’s credit seminar. Notably, the total credit flow under the priority sector for the specified year is estimated at Rs 2,43,093 crore1234.
Development Commissioner Chaitanya Prasad emphasized the importance of credit intensification through specific planning for various sub-sectors within agriculture in the state. Credit plays a crucial role in economic development and employment generation in Bihar. Interestingly, as of March 31, 2023, Bihar had a credit-deposit (CD) ratio of 53.01%, classifying it as one of the states with the lowest CD Ratio. Additionally, 28 out of 38 districts in Bihar have been categorized as credit-deficient districts, where per capita credit availability is less than Rs 6,0004. This projection by NABARD aims to boost financial inclusion and support the state’s growth trajectory. 🌾💰
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