The National Bank for Agriculture and Rural Development (Nabard) has estimated a priority sector lending potential of Rs 3.15 lakh crore for Bengal in 2024-25, up 16 per cent from Rs 2.70 lakh crore in 2023-24.

A category-wise breakup of credit potential shows the share of MSMEs as the highest at 48.64 per cent ahead of the agriculture sector, including agri infrastructure and ancillary activities at 36.71 per cent.

“The projections made for 2024-25 can only be realised through the coordinated approach of all the stakeholders associated with the promotion of priority sector,” the state focus paper for 2024-25 released by Nabard on Saturday said.

“The effective realisation of the potential would not only help to strengthen the priority sectors of the economy through capital formation but will also increase the business volume and sustainability of the banking sector,” the report added.

Credit trends

The annual credit plan of the State Level Bankers’ Committee has set a target of credit disbursal of Rs 1,45,032.04 crore to the MSME sector under priority sector lending in 2023-24. As of September 2023, Rs 89,002.25 crore was disbursed, accounting for 61.37 per cent of the target

In contrast, the credit disbursal target to the agriculture sector was at Rs 1,06,996.44 crore for 2023-24, of which only 34.21 per cent disbursal was achieved as of September 2023.