NABARD pegs Rs 3.75 lakh crore credit potential for MP in priority sector

The National Bank for Agriculture and Rural Development NABARD on Friday presented the State Focus Paper, projecting Madhya Pradeshs total priority sector credit potential at Rs 3,75,384.29 crore for the financial year 2026-27.

The National Bank for Agriculture and Rural Development (NABARD) on Friday presented the State Focus Paper, projecting Madhya Pradesh's total priority sector credit potential at Rs 3,75,384.29 crore for the financial year 2026-27. The paper, presented during the State Credit Seminar organised here, highlighted that agriculture continues to dominate Madhya Pradesh's economy, contributing 44.36 per cent to the state's Gross State Domestic Product (GSDP). The paper reflected a comprehensive assessment of the state's agricultural, MSME, and rural development needs. Of the total projection of Rs 3,75,384.29 crore for the financial year 2026-27, Rs 2,08,743.78 crore has been earmarked for the agriculture sector, including farm credit, agriculture infrastructure, and ancillary activities, while Rs 1,46,269.36 crore has been assessed as the potential for the MSME sector, an official said. He said that the remaining Rs 20,371.15 crore covered export credit, education, housing, social infrastructure, renewable energy, and other priority areas. The paper estimates Rs 1,79,589.97 crore as farm credit potential, Rs 6,461.67 crore for agriculture infrastructure, and Rs 22,692.14 crore for ancillary activities, the official said. Madhya Pradesh remains one of India's leading producers of wheat, rice, soybean, gram, pulses, and oilseeds, indicating sustained demand for institutional credit to support crop production, farm mechanisation, irrigation, and value chain development. State Ministers Vishwas Sarang, Aidal Singh Kansana, NABARD chief general manager C Saraswathi, along with senior bankers and officials from government departments, attended the seminar. Saraswathi emphasised NABARD's developmental interventions in 2024-25, including Rs 27,331 crore in financial assistance, of which Rs 4,132 crore was provided to the state government for rural infrastructure creation under RIDF and Rs 23,199 crore as refinance to rural financial institutions, the official added.

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