NABARD Puts Funds Requirement For Goa's Agriculture And Msmes To Rs 12,803 Crore In 2025-26

(MENAFN- KNN India) Panaji, Dec 17 (KNN) In its latest report, the National Bank for Agriculture and Rural Development (Nabard) has projected that Goa will require Rs 12,803.5 crore in the financial year 2025-26 to meet the needs of its agriculture and micro, small, and medium enterprises (MSMEs).

This marks a significant 42 per cent growth over last year's estimate, underscoring the state's expanding economic requirements.

The figure was detailed in Nabard's State Focus Paper (SFP), which outlines the credit requirements for priority sectors.

According to Nabard, ensuring that the financial resources are made available for these sectors will be crucial for the state's economic development.

The SFP emphasises the need for collaboration between bankers and the state government to prioritise these funding allocations.

Sandeep Dharkar, Nabard's General Manager and Officer-in-Charge of Goa, highlighted the importance of this projected growth.

"This increase will not only foster economic development but also provide better access to credit, helping key sectors achieve their potential," he said.

This year, Nabard has employed technology to create a more efficient digital version of the SFP, streamlining the credit projection process.

The bulk of the projected funding-Rs 9,348 crore, or 73 per cent-is earmarked for Goa's MSME sector. This is seen as a vital area for driving growth in the state's economy.

The agricultural and allied sectors, meanwhile, will require Rs 2,765.3 crore, while other priority sectors, including education, housing, and renewable energy, are projected to require Rs 690 crore.

The SFP serves as a valuable tool for both credit and infrastructure planning. It provides a district-level analysis, helping banks and the state government identify funding needs by sector and activity.

Subhash Shirodkar, Goa's Water Resources Minister, emphasised the importance of strengthening rural infrastructure, particularly through the digitisation of agricultural cooperatives, to support the holistic development of sectors like MSMEs, dairy, fisheries, and renewable energy.

As Goa's economy evolves, securing this significant funding will be key to meeting its growing needs.

(KNN Bureau)

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