Improving Agriculture Credit Flow

Improving Agriculture Credit Flow

  • The Central Govt. has initiated several measures to make available institutional credit to farmers at lower affordable rate of interest.
  • Some of the important measures initiated in this re-grand are (i) Announcement of farm credit package on 18th June, 2004: Govt. of India had announced a Farm Credit Package in June 2004, stipulating doubling of the flow of institutional credit for agricultural in the ensuing three financial years.
  • The credit flow to the farm sector doubled during a period of two years, as against the targeted period of three years.
  • The Ministry of Agriculture has reported that against the total agriculture credit flow target of Rs.2,80,888 crore for 2008-09, total actual institutional credit to the farm sector stood at 2,87,150 crore as on 31st March 2009.
  • The target for agriculture credit flow for the year 2009-10 has been set at Rs.3,25,000 crore.

Improving Agriculture Credit Flow

  • The flow of total institutional farm credit has increased by more than seven times during the last decade, i.e. from Rs.46,268 crore in 1999-2000 to Rs.287,149 crore in 2008-2009.
  • But it is also seen that Cooperatives Institutions have shown a sluggish growth only form Rs.18,260 crore in 1999-2000 to Rs.36,362 crore in 2008-2009.
  • Poor growth in cooperative sector has become a major concern and Central Govt. has announced a package for revival of Short-term Rural Cooperative Credit Structure involving a financial assistance of Rs.13,596 crore with NADARD as the nodal implementing agency.
  • It is seen that growth in the states in the Western and Southern Region of the country is better than other States.
  • In 2007-08, 85.19 lakh new farmers were provided credit by the country’s banking system including 46.38 lakh by Public Sector CBs, 8.87 lakh by Private Sector CBs, 20.11 lakh by RRBs and 9.83 lakh by Cooperative Banks.
  • In 2008-09, this coverage went up to 94.90 lakh new farmers of the country including 51.47 lakh by Public Sector CBs, 6.05 lakh by Private Sector CBs, 23.23 lakh by RRBs and 13.88 lakh by Cooperative Banks.
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good report

Submitted by Anonymous (not verified) on 18 June 2011 - 1:38pm.

good report

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