Shimla, January 28
The National Bank for Agriculture and Rural Development on Wednesday organised the State Credit Seminar for Himachal Pradesh in Shimla, during which the State Focus Paper for 2026-27 was released.
The seminar was attended by key stakeholders from the State Government, Reserve Bank of India and the banking sector.
Presiding over the event, Chief Secretary of Himachal Pradesh Sanjay Gupta said that the total projected credit outlay for the state for 2026-27 has been estimated at Rs 45,810 crore, which is about 8.3 per cent higher than the previous year.
"NABARD has released the State Focus Paper today, with an estimated credit potential of Rs 45,810 crore. Agriculture and allied sectors remain our top priority, with nearly Rs 18,000 crore allocated for agriculture, horticulture, fisheries and floriculture, while MSMEs account for around Rs 23,000 crore," Gupta told mediapersons.
He said the credit plan has been prepared after compiling district-level inputs and consultations with all stakeholders, including the State Government, RBI and banks.
"Agriculture and allied sectors are the pillars of our economy. Rural development and agriculture are the Chief Minister's top priorities. Strengthening these sectors is essential as a majority of livelihoods in Himachal Pradesh depend on them," the Chief Secretary said.
Gupta added that the State Government would make every effort to ensure the successful implementation of the plan so that maximum people benefit from various credit-linked schemes.
"Through this credit plan, people will be encouraged to avail loans, improve productivity and marketing, and strengthen their livelihoods. NABARD plays a crucial role in supporting our capital-intensive infrastructure needs, along with assistance from the Government of India, RBI and banks," he said.
He also informed that a Rs 2,500 crore project has been approved by the World Bank for disaster management and prevention, and work on the project is underway.
Meanwhile, addressing the media, Vivek Pathania, Chief General Manager, NABARD Himachal Pradesh, said the State Credit Seminar is an annual exercise aimed at enhancing collaboration and synergy among stakeholders.
"This seminar serves as a platform for consultation and convergence. The estimated credit potential for Himachal Pradesh for 2026-27 stands at around Rs 45,810 crore, based on sector-wise credit assessments," Pathania said.
He said the MSME and agriculture sectors remain the key focus areas in the new credit plan.
"Out of the total credit potential assessed, about 53 per cent has been earmarked for MSMEs, considering their contribution of nearly 43 per cent to the State GDP. Agriculture accounts for around 38 per cent, while the remaining allocation is for other priority sectors such as education, housing and renewable energy," he added.
Pathania noted that MSMEs in Himachal Pradesh are largely micro-level enterprises and need support for technology adoption, quality improvement and branding.
"We have suggested developing sector-specific industrial estates so that raw materials, infrastructure and support systems can be aligned for focused industrial growth," he said.
Separately, Chief Secretary Sanjay Gupta also reviewed the situation following the recent snowfall and said instructions have been issued to ensure that road connectivity is restored and that tourists and locals stranded due to the snow are safely evacuated.
"Most of the difficulties caused by snowfall have been resolved. Our priority is to keep roads open and ensure no inconvenience to people. The remaining updates will be reviewed by tonight," he said.
- ANI
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