Haryana Unveils Massive ₹3.14 Lakh Crore Credit Plan for 2025-26

The National Bank for Agriculture and Rural Development (NABARD) has projected a substantial increase in priority sector lending for Haryana, with the credit potential reaching ₹3.14 lakh crore for 2025-26. This represents a significant 37.64% growth over the previous year's figures. The sectoral distribution shows:

• MSME Sector: 57.12% 
• Agriculture: 35.60% 
• Other Priority Sectors: 7.28% (including education and renewable energy)

Focus Areas and Initiatives

Chief Secretary Vivek Joshi, while releasing NABARD's State Focus Paper in the presence of Chief General Manager Nivedita Tiwary, commended NABARD's comprehensive approach to assessing credit potential across various sectors. The assessment aligns with the government's vision for farmers' welfare and rural development, particularly emphasizing on

• Crop diversification programs
• Climate-resilient agriculture development
• Shrimp farming promotion
• Vegetable cluster development
• Micro-irrigation schemes
• Financial literacy campaigns
• Digital initiatives for credit access
• Market accessibility improvements

Addressing Rural Challenges

The state government has recognized several critical challenges facing Haryana's agricultural and rural sectors. These include depleting groundwater resources, fragmented landholdings, the growing needs of the MSME sector, and the increasing impact of climate change. In response, the government has been actively implementing various initiatives, including micro-irrigation schemes, financial literacy campaigns, and digital initiatives to enhance access to credit and markets.

Implementation Strategy

To ensure effective implementation, NABARD has conducted detailed assessments for all 22 districts of Haryana. This district-wise approach allows for better integration with District Credit Plans prepared by leading banks. The plan emphasizes the importance of coordinated efforts between banking institutions and government departments to create increased employment opportunities in rural areas.

Chief Secretary Joshi emphasized Haryana's significant role in India's food security and urged the banking sector to take a proactive stance in achieving credit targets for priority sectors. He particularly stressed the importance of ensuring that underserved regions and communities are not left behind in this development journey. The government's alignment with NABARD's vision is reflected in its active implementation of various developmental programs. 

NABARD Chief General Manager Nivedita Tiwary highlighted the consultative process undertaken to arrive at the credit potential assessment. She emphasized the importance of dovetailing the district-wise credit potential with the District Credit Plans prepared by leading banks, ensuring a coordinated approach to rural development and financial inclusion.

Future Outlook

The State Focus Paper will serve as a crucial benchmark and guiding force for activities aimed at strengthening the rural economy throughout the year. It provides a comprehensive framework for achieving priority sector targets while promoting innovative banking solutions and sustainable development practices in rural areas.