Finance Minister Pranab Mukherjee today (March 16, 2012) announced Rs1,00,000 crore increase in the agriculture credit target to Rs5,75,000 for the next fiscal and raised the outlay for farm sector by about Rs3,000 crore.
' Agriculture continues to be a priority to the government.
The total plan outlay for agriculture and co-operation has been increased by 18% from Rs17,123 crore in 2011-12 to Rs20,208 crore in 2012-13,' FM said in his budget.
The allocation for scheme 'Bringing Green Revolution in Eastern India' was also increased by Rs600 crore to Rs1,000 crore in next fiscal considering the success of the programme that led to an additional paddy production of 7 million tonne in the Kharif season of 2011-12 crop year.
The allocation for Rashtriya Krishi Vikas Yojna ( RKVY) was also increased by 17% to Rs9,217 crore.
'Farmers need timely access to affordable credit. I propose to raise the target for agricultural credit in 2012-13 to Rs 5,75,000 crore. This represents an increase of Rs1 lakh crore,' he said.
The credit target for this fiscal has been set at Rs4,75,000 crore. During April-November period, credit worth Rs2,94,023 were disbursed by banks to farmers, according to data provided by Economic Survey.
'The outlay for Rashtriya Krishi Vikas Yojna is being increased from Rs7,860 crore in 2011-12 to Rs9217 crore in 2012-13,' FM said.
....more info
' Agriculture continues to be a priority to the government.
The total plan outlay for agriculture and co-operation has been increased by 18% from Rs17,123 crore in 2011-12 to Rs20,208 crore in 2012-13,' FM said in his budget.
The allocation for scheme 'Bringing Green Revolution in Eastern India' was also increased by Rs600 crore to Rs1,000 crore in next fiscal considering the success of the programme that led to an additional paddy production of 7 million tonne in the Kharif season of 2011-12 crop year.
The allocation for Rashtriya Krishi Vikas Yojna ( RKVY) was also increased by 17% to Rs9,217 crore.
'Farmers need timely access to affordable credit. I propose to raise the target for agricultural credit in 2012-13 to Rs 5,75,000 crore. This represents an increase of Rs1 lakh crore,' he said.
The credit target for this fiscal has been set at Rs4,75,000 crore. During April-November period, credit worth Rs2,94,023 were disbursed by banks to farmers, according to data provided by Economic Survey.
'The outlay for Rashtriya Krishi Vikas Yojna is being increased from Rs7,860 crore in 2011-12 to Rs9217 crore in 2012-13,' FM said.
....more info