New Delhi: The federal government has sanctioned 1.22 crore Kisan Credit score Playing cards sanctioned with credit score restrict of Rs 1,02,065 crore to small and marginal farmers beneath the PM-Kisan scheme.
“In an effort to buffer the agricultural sector from the shock of COVID-19, a particular saturation drive is underway to supply concessional credit score to farmers by way of Kisan Credit score Card (KCC). As on 17.08.2020, 1.22 crore KCCs have been sanctioned with credit score restrict of Rs. 1,02,065 crore. This may go a great distance in reviving the agricultural financial system and accelerating agricultural progress,” the Ministry of Finance mentioned.
It could be recalled that as a part of the Aatma Nirbhar Bharat Bundle, the Authorities had introduced provision of a concessional credit score of Rs 2 lakh crore which is more likely to profit 2.5 crore farmers, together with fishermen and dairy farmers.
Finance Minister Nirmala Sitharaman on 15 Might 2020 has introduced to cowl 2.5 crore new farmers beneath the KCC scheme. This may present a further liquidity of Rs 5 lakh crore within the fingers of farmers, who’re affected by the current downturn of financial system.
As, dairy is among the many quickest rising sectors of the financial system with a CAGR of above 6% within the final 5 years, offering brief time period credit score to dairy farmers for assembly their necessities for working capital, advertising and so forth. will enhance their productiveness tremendously.