Contact Your Financial Adviser Money Making MC
24
April 2018
 |
Agriculture(The Total Investment & Insurance Solutions)
|
|
Agriculture credit is growing every year and
reached Rs 10 lakh crore last fiscal, the government said today while stressing
on the need to increase the flow to small farmers as well as providing loan
access to tenant cultivators.
The agriculture ministry will soon put a
proposal before the Cabinet to improve lending to small and marginal farmers
based on the recommendations of the Sarangi Committee. The Total Investment & Insurance Solutions
“Agriculture credit flow is going up every
year. We have achieved the disbursal target of Rs 10 lakh crore in 2017-18
fiscal. The target for the current financial year has been enhanced to Rs 11
lakh crore,” said Ashish Kumar Bhutani, joint secretary in the Ministry of
Agriculture.
Speaking on the sidelines of a conference,
organised by industry body Ficci, he said that disbursing agriculture credit is
not a challenge. The challenge lies in giving credit to the right farmers, he
added. “Out of the Rs 10 lakh crore credit disbursed in the last fiscal, Rs 6.8
lakh crore was on account of short-term crop loans. Nearly half of that amount
was provided to small and marginal farmers.”
The ministry has sought data from banks for
better targeting of agriculture credit. Government think-tank NITI Aayog is
working to find a suitable mechanism for providing credit access to lessee
cultivators, said Bhutani.
In his Union Budget speech for 2018-19,
Finance Minister Arun Jaitley had said that NITI Aayog, in consultation with
state governments, would evolve a suitable mechanism to enable the access of
lessee cultivators to credit without compromising the rights of landowners.
“Presently, lessee cultivators are not able
to avail crop loans. Consequently, a significant proportion of arable land
remains fallow and tenant cultivators are forced to secure credit from usurious
money lenders,” Jaitley had said.
.
Addressing the conference, Warehousing
Development and Regulatory Authority Chairman BB Pattanaik announced that
negotiable warehousing receipts would be issued electronically, helping farmers
to get easy bank finance against their stocks. The Total Investment & Insurance Solutions
NABARD Deputy Managing Director R
Amalorpavanathan spoke about the need for integrated financing to farmers. He
also pointed out that farmers are in distress because their margins have been
squeezed by rising input costs and low realisation. The Total Investment & Insurance Solutions
No comments:
Post a Comment