NABARD Projects Rs 2,106 Crore Credit Boost for Nagaland's Development

NABARD forecasts a credit potential of Rs 2,106.34 crore for priority sector activities in Nagaland for 2025-26. The State Focus Paper outlines funds for agriculture, MSMEs, and other sectors to guide financial institutions. Emphasis is on credit for FPOs, PACS, and expansion of KCCs.

The National Bank for Agriculture and Rural Development (NABARD) has unveiled a strategic projection of Rs 2,106.34 crore in credit potential for Nagaland's priority sectors for 2025-26.

Released by Agriculture Advisor Mhathung Yanthan at a recent NABARD seminar, the State Focus Paper (SFP) outlines allocations of Rs 712 crore for agriculture, Rs 968 crore for MSMEs, and Rs 425 crore for other sectors. This comprehensive assessment aims to assist financial institutions in effectively channelling credit towards agriculture, rural development, and infrastructure projects, according to NABARD General Manager Pauliankap Bulte.

Bulte underscored the importance of targeted credit for Farmer Producer Organisations (FPOs) and the support for Primary Agricultural Credit Societies (PACS) as essential. Fast-tracking the expansion of Kisan Credit Cards (KCCs), with a focus on animal husbandry and fisheries, is critical. Yanthan urged the State Level Bankers' Committee (SLBC) to address the lack of banking branches in 22 rural development blocks.

(With inputs from agencies.)