NABARD projects Rs 2,106 crore credit potential for Nagaland's growth

The National Bank for Agriculture and Rural Development (NABARD) projected a credit potential of Rs 2,106.34 crore for 2025-26 under priority sector activities in Nagaland. 

The projection was made in the State Focus Paper (SFP) released by Advisor for Agriculture Mhathung Yanthan during a seminar organised by NABARD here on Tuesday.

The SFP stated that of the total projection, Rs 712 is for agriculture, Rs 968 crore for MSME and Rs 425 crore for other sectors.

The paper outlines a comprehensive assessment of the state's credit potential for priority sector activities, which include agriculture, rural development, and infrastructure projects to help guide financial institutions in channelling credit effectively, said NABARD General Manager Pauliankap Bulte.

Also Read: Nagaland: Two-day conference highlights critical thinking, data interpretation in digital era

Bulte stressed the importance of supporting Primary Agricultural Credit Societies (PACS), including those identified for computerisation under a central project. He also noted the need to fast-track the saturation of Kisan Credit Cards (KCCs), with a particular emphasis on animal husbandry and fisheries. 

"The state needs to focus on agriculture, including expanding irrigation facilities, horticulture facilities, and horticulture and food processing which can revolutionise its economy," he said. 

In his address, Yanthan praised the state's achievement of exceeding the Ground Level Credit (GLC) target for the priority sector in the previous financial year. 

He urged the State Level Bankers' Committee (SLBC) to take proactive measures to establish brick-and-mortar bank branches in the 22 unbanked rural development blocks of the state.