INSUBCONTINENT EXCLUSIVE:
credit target of Rs 11 lakh crore."The government has been increasing credit target for farm sector every year
This time too, target is likely to be increased by around 10 per cent or Rs 1 lakh crore to Rs 12 lakh crore for 2019-20 fiscal," sources
For instance, credit worth Rs 11.68 lakh crore was given to farmers in 2017-18, much higher than Rs 10 lakh crore target set for that year,
Institutional credit will also help delink farmers from non-institutional sources where they are compelled to borrow at usurious rates of
However, government has been providing interest subvention to make available short-term farm credit at an affordable rate and help boost
The government is providing 2 per cent interest subsidy to ensure farmers get short-term farm loan of up to Rs 3 lakh at an effective rate
banks and regional rural banks (RRBs) on use of own funds and to Nabard for refinancing RRBs and cooperative banks
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