In 12.68 crore accounts of farmers, banks have deposited Rs. Agricultural loans of more than 20 lakh crores

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Ahmedabad: In the financial year 2023-24, banks have disbursed loans worth Rs 20.39 lakh crore in April-January, while in 2013-14, loans of Rs 7.3 lakh crore were given to farmers. Sources in the Ministry of Agriculture informed that this year the above loans were given in 12.68 crore accounts.

In the budget of the financial year 2023-24, the government has allocated Rs. 20 lakh crore loan target which means that banks have already crossed the target and this figure is likely to cross Rs. 22 lakh crore may cross. In the financial year 2022-23, banks have allocated Rs. 21.55 lakh crore loans were disbursed, which is Rs. 18.50 lakh crore was more than the target.

Apart from this, through KCC (Kisan Credit Card), farmers engaged in animal husbandry and fisheries also get the benefit of loan at four percent annual interest. As on March 31 last year, 73,470,282 KCC accounts were active with outstanding balances of Rs 8,85,463 crore.

Besides this, the government has increased the Minimum Support Price (MSP) of crops in the last 10 years to achieve the target of doubling farmers' income and has also increased procurement of wheat, paddy, oilseeds and pulses.

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