New Delhi, Within the last eleven years under the authority of prime minister Narendra Modi, institutional credit to agriculture has surged from Rs 7.3 lakh crore to Rs 27.5 lakh crore, the Ministry of Finance said on Saturday.
Underneath the management of PM Modi, farmer-first governance has brought about a historic surge in aid costs, well-timed credit, and record payouts—ensuring protection and balance for each cultivator, the minister said in a publication on the X social media platform.
"PM Modi ensured no 'annadata' is left expecting well-timed economic assistance, with institutional credit to agriculture almost quadrupling—from Rs 7.3 lakh crore in 2013-14 to Rs 27.5 lakh crore in 2024-25," the ministry similarly said.
From marginal fields to international shelves, India's farmers are growing like in no way earlier than.
On the grounds that in 2014, beneath PM Modi's leadership, "our 'annadatas' have gained dignity, profits aid, MSP guarantee, agri-infra, and global marketplace right of entry," in line with the authorities.
The Kisan Credit score Card (KCC) scheme has additionally ende up a lifeline for tens of millions of farmers.
KCC is a banking product that gives farmers well-timed and low-cost credit scores for purchasing agricultural inputs along with seeds, fertilizers, and pesticides, in addition to meeting cash requirements related to crop production and allied activities.
"Over 465 lakh applications were sanctioned with Rs 5.7 lakh crore credit limit," in step with Finance minister Nirmala Sitharaman.
The scheme has brought about "easy entry to short-term crop loans." Approximately Rs 5.7 lakh crore have additionally been sanctioned in credit, with "hobby as little as 4 in line with cent with well-timed reimbursement."
With the KCC scheme, farmers can arise to a Rs three lakh loan at simply four percent interest if repaid on time.
An extra spark of compensation An incentive of 3 in line with cent is likewise being provided to farmers on well-timed compensation of loans, which efficiently reduces the price of hobby to four according to cent for farmers. Hence, for every one lakh KCC mortgage, farmers can save up to Rs 9,000 in interest according to the year.
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