Manipur CM Links Lasting Peace to Credit-Led Development and Inclusive Growth

Launching the 'State Focus Paper 2026-27' at a seminar themed "Credit-Led Development in Manipur," the Chief Minister highlighted that stability cannot be sustained without inclusive growth. "Inclusive growth is the foundational principle on which we will build our work," he said.

The paper was unveiled during the State Credit Seminar 2026 held in Imphal, organised by the National Bank for Agriculture and Rural Development (NABARD), Manipur Regional Office.

During the event, the Chief Minister also virtually inaugurated the TRIBES project in Churachandpur district.

Emphasising the role of finance in development, he noted: "Development at the grassroots level requires strong institutional credit support. Credit is not merely a financial instrument; it is a powerful catalyst for development."

He added that NABARD's credit projections would play a crucial role in bridging development gaps across the state.

Highlighting Manipur's economic potential, Singh pointed to sectors such as horticulture, fisheries, handloom, and handicrafts as key drivers of rural transformation.

He urged banks and financial institutions to actively support Farmer Producer Organisations (FPOs), rural start-ups, agri-entrepreneurs, and Self-Help Groups (SHGs).

The Chief Minister reaffirmed the state government's commitment to working closely with financial institutions to enhance credit absorption capacity and improve project implementation.

He also expressed appreciation for NABARD's continued support and acknowledged the role of the Reserve Bank of India and other banking institutions operating in the state.

Chief Secretary Puneet Kumar Goel said the seminar provided a platform for collaboration among the government, NABARD, banks, financial institutions, and community organisations to mobilise credit and resources for inclusive growth.

He noted that the 'State Focus Paper' projects a total credit potential of approximately Rs 3,500 crore for 2026-27. Of this, 51 per cent is allocated to agriculture and allied activities, 37 per cent to the MSME sector, and 12 per cent to other priority sectors.

"These projections reflect the state's development priorities and the evolving structure of Manipur's rural economy," he said.

While agriculture remains the backbone of livelihoods, Goel pointed out challenges such as fragmented landholdings and rising climatic risks, stressing the need for diversification and value addition to enhance farm incomes.

He added that the paper rightly emphasises allied activities including animal husbandry, fisheries, horticulture, and poultry, which offer significant potential for income generation and employment.

General Manager of NABARD's Manipur Regional Office, Partha Mandal, described the 'State Focus Paper' as a "master document" for planning and credit monitoring for the upcoming fiscal year.

"It has been meticulously prepared based on the Potential Linked Plans of all 16 districts of Manipur," he said.

Mandal also highlighted the Tribal Development Project inaugurated in Churachandpur, implemented with grant assistance of Rs 1.6 crore from NABARD. The initiative focuses on community development and livelihood enhancement for tribal populations in hill districts.

"This reflects our commitment to inclusive growth and reaching the last mile," he added.

The seminar was attended by senior officials, including the Chief General Manager and Officer-in-Charge of the Reserve Bank of India, Imphal, N. Sridhar, along with representatives from banks, financial institutions, Self-Help Groups, and government departments.

- IANS