Itanagar, Feb 11: The State Focus Paper for the financial year 2025-26, prepared by the National Bank for Agriculture and Rural Development (NABARD) Arunachal Pradesh, was released on Tuesday, projecting a credit potential of Rs 1689.90 crore under the priority sector.
The document was unveiled by Chief Secretary Manish Kumar Gupta, along with Rajiv Gandhi University Vice-Chancellor Prof Sushanta Kumar Nayak, Industries Commissioner Saugat Biwas, Cooperation Secretary Dr Sonal Swaroop and other dignitaries, during the State Credit Seminar for FY 2025-26 conducted at the DK Convention Hall here.
“The State Focus Paper will serve as a crucial reference document for banks in formulating their Credit Plans and for the State Government departments and other stakeholders in finalising their development initiatives, ensuring increased credit flow and contributing to economic development,” stated a release from NABARD.
In his address, the Chief Secretary commended NABARD’s efforts in preparing the State Focus Paper, calling it a valuable resource for strategic planning. He acknowledged the vast potential of horticulture and agriculture in the state, citing its favorable soil moisture levels. He, however, pointed out that conventional training programs at ITIs and skill development centers are not sufficient to meet the state’s evolving workforce needs.
He said that Arunachal Pradesh has forest cover of more than 70% which can become a hotspot for generating income while preserving nature and can generate income for rural population of the state.
RBI (Itanagar) General Manager (OIC) Abhijit Majumdar underscored the importance of the State Focus Paper, stating that it plays a key role in guiding banks' credit planning and supporting government departments in designing development projects.
State’s Finance Commissioner and Director of NABARD’s Board Y W Ringu observed that while the corpus under the Rural Infrastructure Development Fund (RIDF) has declined in several states, the allocation for Arunachal has remained unchanged. She urged bankers and other stakeholders to work towards expanding credit outreach, particularly to underserved communities.
RGU Vice-Chancellor Prof Nayak emphasized the essential role of institutions in driving rural development. He highlighted the importance of strengthening farmers’ cooperatives and establishing a structured buyback mechanism for agricultural produce to ensure better incomes for farmers.
NABARD GM Damodar Mishra, while delivering the welcome address, highlighted the NABARD’s critical role in credit planning and rural development. He emphasized the organization’s initiatives in farm and off-farm sectors, institutional development and financial inclusion, including promotion of Geographical Indications (GI), implementation of demonstrative projects using technology, supporting farmer producer organizations (FPOs), developing marketing platforms, etc.
During the interaction and open discussion sessions, various NABARD partner agencies shared their insights and success stories. Representatives from the Indian Institute of Entrepreneurship (IIE), Arunachal State Rural Livelihoods Mission (ArSRLM), Soil Conservation Department, RGU, State Cooperative Bank, RM, SBI & SLBC Convenor, and other stakeholders provided updates on ongoing projects supported by NABARD and discussed their progress and impact.
The seminar saw active participation from government officials, representatives of banks and NGOs, with discussions centered on enhancing credit flow, financing rural infrastructure, and strengthening the rural credit ecosystem.
In his concluding remarks, the Chief Secretary commended NABARD's efforts and urged state government departments, banks, and other stakeholders to effectively utilize the insights gained during the seminar. He further emphasized that credit flow across various priority sectors would continue to be closely monitored in the quarterly SLBC meetings at the state level.