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NABARD estimates Telangana’s credit potential for priority sector at ₹2,80,000.56 Cr for 2024-25

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National Bank for Agriculture and Rural Development (NABARD), Telangana Regional Office conducted the State Credit Seminar for 2024-25 at Hyderabad on 30 January 2024. Shri Tummala Nageswara Rao, Hon’ble Minister for Agriculture, Marketing, Co-operation, and Handlooms & Textiles, Government of Telangana was the Chief Guest.

The Hon’ble Minister launched the ‘State Focus Paper 2024-25’ in the presence of Shri M. Raghunandan Rao, IAS, Agriculture Production Commissioner & Secretary, GoT, Shri Debashish Mitra, SLBC Convenor, SBI and Shri K.Rajendra Prasad, DGM, RBI, Govt. Officials, Senior Bankers and Research Scientists participated in the seminar. Shri Dr. B Gopi, Director Agriculture Department, Smt M Haritha, RCS, Smt Chittem Lakshmi, Managing Director – TSDDCFL, E Vishnu Vardhan Reddy, MD-TSIIC were also present on the occasion.

Smt Suseela Chintala, CGM NABARD, Telangana stated that the credit potential of Telangana for Priority Sector for the year 2024-25 is assessed at ₹2,80,000.56 crore. CGM expressed her confidence that State Focus Paper 2024-25 would be of immense help to the State Government for planning targeted interventions through budgetary allocations, to the bankers for effectively channelizing credit to various sectors and for other Stakeholders to plan their interventions in Rural and Agri Sectors based on the data points captured in the PLPs. She further highlighted the thrust areas of NABARD and assured that NABARD, staying true to its mandate, will continue to contribute for the Sustainable and Equitable Agriculture and Rural Development in Telangana.

Shri M. Raghunandan Rao, Agriculture Production Commissioner & Secretary, GoT, appreciated the efforts of NABARD in preparing the SFP. He further pointed out the initiatives that are already in the pipeline from the part of the government, in the areas that has been focused by NABARD, which included fruit park at Koheda, strengthening of Rythu Vedikas and Crop insurance etc.

Shri Tummala Nageswara Rao, Minister of Agriculture, Cooperation and Marketing, Government of Telangana, the Chief Guest on the occasion, inaugurated the Seminar and delivered the key note address. He reiterated Telangana Government’s commitment to work for the rural cause and appreciated NABARD for preparation of SFP 2024-25. He pointed out the importance of timely credit in agricultural growth and advised the banks to play a pivotal role in financing the sector.

He also sought the support of NABARD in promoting agri exports, dairy infrastructure, construction of rural godowns and marketing of rural produce. He also highlighted the need for crop diversification in the state through promotion of millet cultivation and value chain development. A Mobile Rural Haat supported by NABARD for marketing agri produce was also flagged off during the event apart from releasing of documentation of successful interventions of NABARD. He also appreciated the interventions showcased viz. Phygital Mobile Agro Support Services, Mobile Sabjee Cooler etc.

Other dignitaries including Shri Rajendra Prasad, DGM, RBI, Shri Debashish Mitra, GM, SBI and SLBC Convenor, Director – NRC Meat Research, Director CRIDA lauded the efforts of NABARD and expressed their views in their areas of expertise.

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