look news india
Ahmedabad: In the financial year 2023-24, in April-January, banks have distributed loans worth Rs 20.39 lakh crore, whereas in 2013-14, loans worth Rs 7.3 lakh crore were given to farmers. Sources in the Agriculture Ministry said that this year the above loans were given in 12.68 crore accounts.
In the budget for the financial year 2023-24, the government has allocated Rs. The loan target of Rs 20 lakh crore means that banks have already crossed the target and the figure is likely to cross Rs 20 lakh crore. It may exceed Rs 22 lakh crore. In the financial year 2022-23, banks have committed Rs. Loans worth Rs 21.55 lakh crore were distributed. It was Rs 18.50 lakh crore more than the target.
Apart from this, farmers doing animal husbandry and fish farming also get the benefit of loan at four percent annual interest through KCC (Kisan Credit Card). As of March 31 last year, 73,470,282 KCC accounts were active, with outstanding of Rs 8,85,463 crore.
Besides this, the government has increased the minimum support prices (MSP) of crops and also increased procurement of wheat, paddy, oilseeds and pulses in the last 10 years to achieve the target of doubling farmers' income.