Centre disburses Rs.1.38 lakh crore agriculture credits to farmers

New Delhi, Nov (ANI): The Union Agriculture Ministry said here on Thursday that Rs. 1.38 lakh crore have been disbursed among farmers across the country as agriculture credit up to September.

This is about 42.41 percent of the target fixed for the current fiscal. The target to be achieved during 2009-10 is to the tune of Rs.3.25 lakh crore.

The ministry has stated that it has distributed Rs 92,595.08 crore through commercial banks, Rs27,704.85 crore through cooperative banks, Rs 17,531.31 crore through rural banks.

The flow of agriculture credit since 2003-04 has consistently exceeded the target and increased from Rs.86,981 crore in 2003-04 to Rs.2,87,149 crore in 2008-09.

As advised by the Agriculture Ministry to launch an intensive branch and village level campaign to provide Kisan Credit Card to all the eligible and willing farmers in a time bound manner, the state governments have issued 8.53 crore cards up to July.

To relieve the burden of overdues, the government has waived or given relief to about 3.68 crore farmers through One Time Settlement (OTS) involving an amount of Rs. 65,318.33 crore making them eligible to avail fresh credit from the banking system.

Meanwhile, the government is also implementing revival package for Short-term Rural Cooperative Credit Structure involving financial outlay of Rs. 13,596 crore.

The Center has entered a trilateral agreement with the state governments and the National Bank for Agriculture and Rural Development (NABARD) and accordingly constituted a Task Force to look into the issue of a large number of farmers, who had taken loans from private moneylenders in the country. (ANI)