Nabard Estimates Priority Sector Lending Target Of Rs 3.97 Lakh Cr For Karnataka In FY25
The priority sector lending in Karnataka during the financial year 2024-25 has the potential to reach Rs 3.97 lakh crore, said National Bank for Agriculture and Rural Development (Nabard) Chief General Manager, T Ramesh, during the State Credit Seminar. This projection is 10.67 percent higher than the previous year's projection.
The credit potential consists of three sectors: agriculture, micro small and medium enterprises (MSME) and other priority sectors. The agriculture sector, which includes agri-infrastructure and ancillary activities, has a share of Rs 1.85 lakh crore (46 per cent), followed by the MSME sector with a share of Rs 1.58 lakh crore (40 per cent) and other priority sector activities with a share of Rs 0.54 lakh crore (14 per cent).
In the wake of the severe drought situation, Nabard has been complementing the efforts of the State government by extending financial support to the tune of Rs 990 crore for 119 irrigation projects and Rs 611 crore for drinking water projects under the Rural Infrastructure Development Fund and has sanctioned Rs 290 crore under Micro Irrigation Fund for promoting sustainable irrigation practices during the current year, Ramesh added.
