NABARD Unveils Rs 4.88 Lakh Crore Credit Projection for Rajasthan's Growth
In a significant move to bolster rural and semi-urban development, the National Bank for Agriculture and Rural Development (NABARD) has projected a priority sector credit potential of Rs 4.88 lakh crore for Rajasthan for the financial year 2026-27. This ambitious projection was announced at the State Credit Seminar held in Jaipur, where NABARD released its comprehensive State Focus Paper (SFP) for 2026-27.
Strategic Framework for Financial Planning
The State Focus Paper serves as a critical document that consolidates district-wise and block-level credit potential across various sectors. It meticulously maps both physical and financial opportunities, providing a robust framework to guide banks in preparing their annual lending plans. This initiative aims to align financial institutions with the state's developmental priorities, ensuring targeted and efficient credit distribution.
Chief Secretary V Srinivas officially released the SFP, along with two key publications: "Strengthening Infrastructure in Rajasthan under RIDF" and "Success Stories of FPOs in the State." Addressing the gathering, Srinivas emphasized the seminar's role as a pivotal platform for synchronizing financial strategies with state objectives. He referenced the state's substantial budget outlay of Rs 6.11 lakh crore, underscoring a focused approach on enhancing household incomes and investing in critical areas such as agriculture, rural roads, drinking water, and renewable energy.
Emphasis on Coordination and Sectoral Growth
Srinivas urged banks and line departments to enhance coordination to meet the projected credit targets. Echoing this sentiment, Shikhar Agarwal, Additional Chief Secretary for Industries and MSMEs, highlighted the vital role of Micro, Small, and Medium Enterprises (MSMEs) in driving industrial growth, generating employment, and adding value in rural and semi-urban regions. Agarwal called for deeper collaboration between financial institutions and government departments to support MSME development effectively.
Ajitabh Sharma, Additional Chief Secretary for Energy, pointed out the necessity of strengthening implementation under the PM Suryaghar Yojana. He also flagged the potential of public-private partnership models to expedite renewable energy and infrastructure projects, which are crucial for sustainable development.
Detailed Sectoral Breakdown and Future Vision
R Ravi Babu, Chief General Manager of NABARD, elaborated on the Rs 4.88 lakh crore projection, noting its alignment with Rajasthan's long-term development vision. The breakdown reveals a balanced growth strategy: agriculture and allied activities account for Rs 2.24 lakh crore, while MSMEs are projected at Rs 2.27 lakh crore. This distribution aims to foster synergy between farm and non-farm sectors, promoting holistic economic advancement.
Babu stated that the SFP will serve as the benchmark for the Annual Credit Plan for 2026-27, with a strong emphasis on last-mile delivery, support for women farmers, and strengthening cooperative institutions. The event also recognized the contributions of Primary Agricultural Credit Societies (PACS), cooperative banks, and Farmer Producer Organizations (FPOs), acknowledging their role in the state's agricultural and rural economy.
This comprehensive credit projection by NABARD marks a strategic step towards accelerating Rajasthan's growth, focusing on inclusive development through enhanced financial access and sectoral investments.
