NABARD Annual Seminar Charts New Investment Pathways in Himachal Pradesh
NABARD organized the Annual State Credit Seminar in Shimla, underscoring the need for private investment to drive Himachal Pradesh's development. Chief Secretary Prabodh Saxena praised NABARD's role and advocated for diverse investments in sectors like MSMEs and hydro projects to foster growth and self-reliance.

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- India
The National Bank for Agriculture and Rural Development (NABARD) hosted its Annual State Credit Seminar in Shimla, marking a significant focus on encouraging private investment for the economic growth of Himachal Pradesh. Chief Secretary Prabodh Saxena emphasized the importance of private investments in diversifying and enhancing the state's resource potential, while acknowledging NABARD's instrumental role as an ally in the state's progress.
Saxena, addressing the media, stressed that the path to substantial development cannot be paved by public investment alone. He underlined the necessity for private investors to propel growth, citing that such investments could significantly bolster the state's resources. Saxena noted that targeted investment in areas like homestays, MSMEs, and hydro projects is essential, given the high logistics costs in regions like Kinnaur.
The seminar aimed at setting the forthcoming year's credit limits for banks and mapping district-level infrastructure potentials to provide targets for credit disbursement. NABARD's Regional Chief General Manager, Vivek Pathania, talked about a 22% growth plan in credit limits for the 2025-26 fiscal year, totaling Rs 41,422.43 crore. The focus areas include MSMEs and non-farm sectors to promote self-employment and youth empowerment.
NABARD's financial contributions include offering concessional funds to cooperative and rural banks, and this year disbursing Rs 2,200 crore at 4% interest. Collaborative infrastructure projects with the state government are ongoing, with Rs 903 crore sanctioned for various initiatives, including Rs 200 crore for a milk plant and Rs 110 crore for electric vehicle charging stations by Himachal Tourism Corporation.
Vivek Pathania introduced new projects, like milk plants and EV charging stations, as part of NABARD's diverse investment strategy aimed at meeting the state's evolving needs, showcasing the organization's commitment to sustainable development in the region.
(With inputs from agencies.)
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