By Our Correspondent
BHUBANESWAR: Chief Minister Naveen Patnaik while urging State Level Bankers’ Committee for their all out support, said the Government is very serious about restoring economy both at State level and at individual household levels. For this there are three important interventions where State needs unstinted support. He said Credit to Farmers, Mission Shakti Self Help Group and MSMEs requires their continued support.CM said “We are providing more than 600 crore rupees for interest subvention to facilitate farmers get loan at ‘Zero percent’ up to 50 Thousand rupees and at 2% up to Rupees 3 lakhs. We also have our ‘Balaram’ Scheme to help our Share Croppers”.
In case of Women Self-help Groups, Mission Shakti, My Government is providing 100 Percent interest subvention up to Rs.3 lakhs making it interest free, said he.CM said similarly for MSMEs State has designed some interest subvention to boost the sectors.He would be closely monitoring Credit Flow to these three crucial sectors and have a district wise review with Collectors and bankers jointly by the end of November, pointed out CM.CM said the best performing banks would be awarded with Chief Minister’s award for Champion banks.And he would also inform about the performance to the Union Finance Minister.
Reserve Bank of India (RBI) has appreciated the efforts of Odisha Government in taking up reforms in Financial Management, which is yielding positive results for the State and coming to its rescue in a crisis period like COVID-19.Latest Report on State Finances and Experience of Odisha released by RBI pointed out that the Government of Odisha identified -Fiscal Risk Management” as one of the key reforms priority under technical assistance from the IMF South Asia Regional Training and Technical Assistance Center (SARTTAC) in 2019.
“Acknowledging #Odisha’s efficient fiscal risk management, Reserve Bank of India report has highlighted 3-stage approach of the State Govt along with setting up of a dedicated Fiscal Risk & Debt Management Cell in Finance Department, Odisha, and a high-level Fiscal Risk Committee. #OdishaLeads,” Odisha CMO said.
