The National Bank for Agriculture and Rural Development (NABARD) has estimated a credit potential of Rs 3,421.77 crore for Meghalaya under priority sector lending by the banks for the 2024-25 fiscal.
In a statement, NABARD said that the credit estimate for agriculture, Micro, Small and Medium Enterprise (MSME), and other priority sectors consisting of housing loans, education loans, etc., have been pegged at Rs 1,441.99 crore (42.14 per cent), Rs 1,606.42 crore (46.95 per cent) and Rs 373.36 crore (10.91 per cent), respectively.
“Scientific groundwater extraction, wherever possible, rainwater impounding in reservoirs and micro-irrigation practices to improve the cropping intensity and establishment of small decentralised solar-based cold storages to arrest the perishability of horticulture produce, along with processing, have immense potential,” said the statement.
