The National Bank for Agriculture and Rural Development (NABARD) has assessed a credit potential of US$ 35.92 million (INR 31.4 billion) for Haryana under priority sector lending for the financial year 2025-26. This projection marks a 37.64% increase from the previous year and covers agriculture, micro, small and medium enterprises (MSMEs), education, renewable energy and other crucial sectors.
The assessment was unveiled during the State Credit Seminar held in Chandigarh, where Haryana Chief Secretary Vivek Joshi, IAS, released the Haryana State Focus Paper (SFP). The event was attended by NABARD Chief General Manager (CGM) Nivedita Tiwary, along with senior officials from banks, the state government, academic institutions, and representatives from Farmer Producer Organisations (FPOs), Off-farm Producer Organisations (OFPOs), and Self-Help Groups (SHGs).
Growth in Credit Potential Across Key Sectors
The NABARD assessment highlights that agriculture accounts for 35.60% of the projected credit potential, while MSMEs make up the largest share at 57.12%. The remaining 7.28% is allocated to other priority sectors, including education and renewable energy. These figures underscore the increasing emphasis on financing initiatives aimed at strengthening the rural economy and promoting sustainable practices.
During the seminar, Chief Secretary Vivek Joshi acknowledged NABARD’s efforts in evaluating the credit needs of Haryana’s agriculture, MSME, export, education, and renewable energy sectors. He emphasized that these financial projections align with the government’s focus on improving farmers’ welfare and driving rural development. Crop diversification, climate-resilient farming, shrimp aquaculture, and vegetable clusters were identified as key areas for investment. He urged banks, government departments, NABARD, the State Level Bankers’ Committee (SLBC), and academic institutions to work together in facilitating greater employment opportunities in rural areas.
Strengthening Financial Inclusion and Market Access
NABARD CGM Nivedita Tiwary highlighted the extensive consultative process undertaken to determine the ₹3.14 lakh crore credit potential. This involved aggregating data from Potential Credit Linked Plans for all 22 districts of Haryana. She stressed the importance of integrating NABARD’s credit assessments with District Credit Plans prepared by Lead Banks.
Recognizing financial inclusion as a critical aspect of development, NABARD has been working to expand access to banking services in rural areas. Efforts include the digitization of Primary Agricultural Cooperative Societies (PACS), deployment of mobile ATMs, and an increase in Business Correspondents (BCs) to enhance financial accessibility and digital literacy.
To boost marketing opportunities for SHGs, NABARD has signed a Memorandum of Understanding (MoU) with the National Rural Livelihood Mission (NRLM). Several initiatives are already in place to support the marketing of SHG products in collaboration with the Haryana State Rural Livelihoods Mission (SRLM).
Sustainable Agriculture and Infrastructure Development
NABARD continues to drive sustainable agricultural practices through its Farm Sector Promotion Fund (FSPF). Initiatives supported under this program include reclamation of alkaline soil in Karnal and Kaithal, promotion of kharif onion as an alternative to paddy cultivation in Karnal, adoption of IoT-based saline shrimp farming in Hisar, and the introduction of precision horticulture using robotics in Hisar.
Additionally, the Rural Infrastructure Development Fund (RIDF) has played a crucial role in financing key infrastructure projects across Haryana. These include the installation of solar pumps, irrigation development, rural roads, and storage facilities to enhance agricultural productivity and market access.
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Empowering Farmers Through FPOs and OFPOs
In a bid to improve farmers’ incomes and bargaining power in price negotiations, NABARD has promoted 129 Farmer Producer Organisations (FPOs) in Haryana. These collectives enable farmers to leverage economies of scale in both input procurement and output marketing while aligning with various government schemes.
Beyond agriculture, NABARD has also facilitated the growth of Off-Farm Producer Organisations (OFPOs) to promote traditional crafts and non-agricultural enterprises. Two notable OFPOs include Beliyan OFPO in Palwal, which specializes in Sujni craft and Jaipuri quilts, and Virasat Back to Roots in Raipur Rani, Panchkula, which focuses on manufacturing traditional dhurries.
Strengthening Rural Infrastructure and Income Generation
NABARD has reaffirmed its commitment to collaborating with the Haryana government to enhance irrigation systems, storage and warehousing facilities, road connectivity, and digital infrastructure. These improvements aim to reduce post-harvest losses, improve market linkages, facilitate financial inclusion, and boost rural incomes.
With a projected credit potential of ₹3.14 lakh crore, there is an urgent need to scale up investments in agriculture, MSMEs, social infrastructure, and sustainable energy solutions. The synergy between banks, government agencies, financial institutions, and grassroots organizations will be critical in harnessing this credit potential and ensuring economic growth in Haryana’s rural sector.