Institutional credit of ₹25.49 lakh crore disbursed to 17.09 crore farmers during 2023-24: Union Minister of State for Agriculture

The Union authorities has disbursed organization recognition of ₹25.49 lakh crore to 17.09 crore farmers during the fiscal twelvemonth 2023-24. Of this an magnitude of ₹14.40 lakh crore has been disbursed to 13.06 crore Small and marginal farmers, Minister of State for Agriculture and Farmers’ Welfare Ramnath Thakur, has informed the Lok Sabha.

Replying to a question by Villupuram MP D. Ravikumar connected Tuesday, Mr. Thakur said the authorities had made capable proviso of funds to instrumentality credit-linked schemes to guarantee required recognition reaches the targeted and deserving beneficiaries.

The authorities has besides taken respective steps for deepening and widening of recognition travel to farmers. “As per Priority Sector Landing (PSL) regulation, the authorities has mandated that banks volition supply 18% of their full loans to agriculture and allied sector. Since 2016 a sub-limit has been fixed for tiny and marginal farmers which astatine contiguous is 10%,” helium said.

To guarantee transparency, ratio successful administering Modified Interest Subvention Scheme (MISS) and timely disbursement of Interest Subvention, a integer level namely Kisan Rin Portal (KRP) has been launched by the authorities for punctual colony of claims. In addition, respective different integer initiatives, similar Krishi Nivesh, and eKCC person been launched for expeditious authorisation of loans, the Minister said.