In seven years, NABARD gave agricultural loans of Rs 6.5 lakh crore to farmers at a concessional rate, the government gave Kisan Credit Cards to the beneficiaries of PM-Kisan scheme during the Corona period.
Union Agriculture Minister Narendra Singh Tomar has said that the progress of small and medium farmers is the main goal of the government. Under the Pradhan Mantri Kisan Samman Nidhi Scheme, more than 11 crore farmers of the country have been transferred directly to their bank accounts of Rs 1.35 lakh crore so far. On the other hand, NABARD has played an important role in the record procurement of produce by distributing about 50 thousand crore rupees to the State Marketing Associations.
Tomar was addressing a webinar organized on the 40th Foundation Day of NABARD-National Bank for Agriculture and Rural Development on Monday. He said that keeping in mind the cost of cultivation, the government has continuously increased the Minimum Support Price (MSP). Procurement through state agencies has also increased.
KCC given in Corona era
It is very important to provide timely credit to small and marginal farmers in the Indian agriculture sector, for which even during the Corona epidemic, the government has taken a mission mode to provide Kisan Credit Card (KCC-Kisan credit card) to the beneficiaries of PM-Kisan scheme. campaigned in. In the budget of the current financial year, a target of giving loan of Rs 16.5 lakh crore has been set in this sector.
Agriculture loan of Rs 6.5 lakh crore given in seven years
Agriculture Minister Tomar said that NABARD has made available crop loans to farmers at concessional rates through cooperative and regional rural banks. In the last 7 years, this amount has become Rs 6.5 lakh crore. Tomar said that the government has also reformed agricultural marketing. The Integrated National Agriculture Market (e-NAM) mandis have now become 1000. In the current year, one thousand more mandis will be linked to this portal.
Agriculture sector investment will increase
Tomar said that through ‘Operation Greens’ scheme and Kisan Rail, the losses are being brought down by transporting fruits and vegetables from farms to consumers and cities. The beginning of formation of 10 thousand new Farmer Producer Organizations (FPOs) has also started, which will work on the model of collectivism. For the development of agriculture and allied sectors, a package of more than Rs 1.5 lakh crore was given, which will benefit agriculture in the country. In this, investment will be promoted by a special “Agriculture Infrastructure Fund” of Rs 1 lakh crore.
1.81 lakh crore given for rural infrastructure
Farmers will now get financial assistance from the government with 3% interest and loan guarantee. NABARD, a participant in the scheme, has set a target to develop 35 thousand primary agricultural cooperative societies as ‘one-stop shops’. NABARD has sanctioned Rs 1,700 crore to 3 thousand PACS for setting up of multi service centres. In the last 7 years, NABARD has given loans of Rs 1.81 lakh crore to the states under the Rural Infrastructure Development Fund, of which one-third has been used for irrigation.
Agricultural laws are important for small farmers
In the webinar, Chief Economic Advisor to the Government of India, Dr. Krishnamurthy V. Subramaniam said that the new agricultural laws are very important for the development of small and marginal farmers. Due to NABARD, small and marginal farmers do not have to depend on middlemen and informal channels of credit. On this occasion, NABARD Chairman Dr. G.R. Chintala said that India is moving rapidly from two trillion dollar to five trillion dollar economy.
