In a momentous event at Narmada Hall, Swarnim Sankul-I, Sachivalaya, Gandhinagar on February 15, 2024, the Chief Secretary of Gujarat, Shri Raj Kumar, IAS unveiled the highly anticipated State Focus Paper 2024-25. Crafted by NABARD, this annual document reveals an impressive credit potential of ₹3.53 lakh crore for priority sectors in the vibrant state of Gujarat.

This prestigious gathering also witnessed the presence of key dignitaries, including Shri A.K. Rakesh, Addl. Chief Secretary (ACS) of Gujarat, senior bankers, NGOs and other stakeholders. The atmosphere was charged with enthusiasm as the State Focus Paper, a collaborative effort with state departments, banks, and stakeholders, took centre stage.

NABARD's meticulous analysis highlighted a credit potential breakdown of ₹1.42 lakh crore (40%) for agriculture and allied sectors, ₹1.80 lakh crore (51%) for the MSME sector, and the remaining 9% for other priority sectors. This forward-looking document not only outlines the existing credit-absorption capacity but also proposes strategies to enhance it through strategic partnerships and policy interventions.

Shri Raj Kumar, IAS, Chief Secretary, Government of Gujarat, in his keynote address, praised NABARD on the release of the State Focus Paper 2024-25 for Gujarat, along with other notable rural development initiatives of NABARD such as Computerisation of PACS. In his address, Shri Raj Kumar, exhorted bankers to view farmers as small business enterprises and to augment credit supply to the State’s farmers by reposing greater faith in their enterprising skills. Lauding NABARD as an Indianised version of the World Bank in the rural landscape, the Chief Secretary urged NABARD to develop as a ‘Knowledge Bank’ for the nation. He reiterated the State Government’s support to NABARD in this endeavour. Shri Raj Kumar also called for greater convergence of NABARD’s developmental interventions with the Government’s Schemes for capacity building of the farmers to augment their market scope not just in India, but also abroad.

Shri A.K. Rakesh, ACS, in view of NABARD’s estimation of ₹3.53 lakh crore priority sector credit potential for Gujarat for financial year 2024-25, appealed to bankers to strive towards achieving this credit potential estimated by NABARD. He appreciated the proactive role being played by NABARD Gujarat Regional Office in engaging with the State Government, and playing a leading role in promoting rural prosperity and development. Shri A.K. Rakesh encouraged bankers to consider agri-innovations for credit support favourably. He also lauded NABARD’s MOU of Rs. 26,000 crore with the Government of Gujarat for promotion of rural infrastructure, renewable energy, etc., in the State.

Shri B.K. Singhal, CGM, NABARD Gujarat RO, in his address described inclusive development as the foundational principle underlying our shared goal of ‘Sabka Saath, Sabka Vikas’. In this vein, he highlighted the continuous engagement of NABARD with the State Government and other stakeholders, especially in light of the organization of the first-of-its-kind Progressive Farmers’ Symposium in December 2023, as a prelude to the Vibrant Gujarat Global Summit 2024, in collaboration with the Department of Agriculture, Government of Gujarat, and the Gujarat Grassroots Innovation Augmentation Network (GIAN) for giving a fillip to innovative farmers and agri-preneurs of the State.

Among the notable initiatives of NABARD, Shri B.K. Singhal lauded the pilot project of NABARD on promotion of Micro ATMs among PACS and milk societies, implemented through the Banaskantha and Panchmahal District Central Cooperative Banks along with the support of the Gujarat State Cooperative Bank, as a shining example of “cooperation among cooperatives”. He also shared the appreciable progress of grain storage infrastructure development at Chandranagar PACS as part of the World’s Largest Grain Storage Scheme in Cooperative Sector, besides other critical initiatives such as promotion of Digital Mandi at Himmatnagar, in Sabarkantha district, etc.

Finally, Shri B.K. Singhal exhorted bankers to focus on agricultural credit disparities within the State and look to address the same, and especially in the South Gujarat region, while calling for greater convergence between NABARD, Government of Gujarat and bankers.

Smt. Nidhi Sharma, General Manager, NABARD Gujarat RO, provided a comprehensive overview of Gujarat's banking profile and the projected priority sector credit potential for the State during 2024-25. She delved into NABARD's impactful interventions in Gujarat, such as orchard development supporting over 48,000 tribal households, watershed development covering close to 44,000 rural households, along with formation and promotion of 300 FPOs, besides NABARD’s initiatives to promote rural infrastructure, financial inclusion, rural digitalization, Geographical Indications, skill training and cooperative sector support for fostering sustainable rural development and credit delivery in the State.

AP/GP/JD

(Release ID: 2006277) Visitor Counter : 186