Rajasthan: National Bank for Agriculture and Rural Development (NABARD) has pegged the exploitable credit potential as Rs 1.72 lakh crore.

NABARD has set out this amount for priority sector lending by banks in Rajasthan for 2017-18, which is 14% higher than the projection of Rs 1.51 lakh crore made for the year 2016-17.

NABARD also highlighted a few other sectors for which credit has been allocated. Other sectors that would require substantial credit are Micro, Small & Medium Enterprises (Rs 30,472 crore), export credit (Rs 2,140 crore), education (Rs 1,921 crore), housing (Rs 8,135 crore), renewable energy (Rs 925 crore), and social infrastructure (Rs 1,197 crore).

Sarita Arora, chief general manager of NABARD said, “The State Credit Plan was prepared with an aim to double farmers’ income by 2022 as envisaged by the Prime Minister.

Agriculture sector including agriculture infrastructure and ancillary activities accounts for 71% of the total credit potential, while same for MSME sector and other priority sectors assessed at 18% and 11% respectively.”

Chief secretary Om Prakash Meena announced the State Focus Paper 2017-18 on Wednesday. He made an assessment of credit potential in various sectors with agriculture accounting for Rs 1,22,197 crore against Rs 1,10,475 crore projected for the financial year 2016-17.

According to the 70th round of National Sample Survey (NSS), the average farm household income in the state is pegged at Rs 88,016 and about 62% of the families are indebted against an all India average of 52%.

The credit plan document was prepared in consultation with the government departments, banks, and other stakeholders, was released in the presence of regional director of RBI Arnab Ray. SLBC convenor and general manager of Bank of Baroda N C Upreti, and senior officials from major commercial banks, Regional Rural Banks and cooperative banks were also present at the event.