Kolkata, February 28: The National Bank for Agriculture and Rural Development (Nabard) has announced a 20.63% increase in the priority sector lending target for West Bengal, setting it at ₹3.80 lakh crore for the financial year 2025-26 (FY'26).
As a key refinancing institution, Nabard formulates Potential Linked Credit Plans (PLCPs) for each district, employing a consultative approach to ensure adequate financial support for priority sectors. These plans evaluate credit potential, track deployment trends, assess infrastructure needs, and explore market opportunities.
According to Nabard’s statement, the agriculture and allied sectors will receive a 33.42% share, amounting to ₹1.27 lakh crore of the total credit allocation. The organization emphasized the need to strengthen farmer-producer organizations (FPOs) with a focus on processing and marketing, citing West Bengal’s strong agriculture export potential.
Additionally, the micro, small, and medium enterprises (MSME) sector has been identified as a major contributor, with a projected credit potential of ₹2 lakh crore, accounting for 52.63% of the total allocation.
West Bengal's Principal Secretary for Agriculture, Onkar Singh Meena, highlighted that credit disbursement in the sector has already reached ₹75,000 crore, with expectations to surpass ₹1 lakh crore by the end of the current financial year.
With this significant increase in lending, Nabard aims to bolster rural development, promote agri-business, and drive economic growth in West Bengal’s priority sectors.