Mukherjee raises credit flow to farmers by Rs.1 lakh crore
By IANSMonday, February 28, 2011
NEW DELHI - In a move to provide better access to affordable loans to the farming community, Finance Minister Pranab Mukherjee in the general budget for 2011-12 Monday said the government was increasing credit flow to farmers by Rs.1 lakh crore.
“For the year 2011-12, I am raising the target of the credit flow to the farmers from Rs.375,000 crore to Rs.475,000 crore,” Murkherjee said, emphasising that farmers need access to affordable credit.
According to him, public sector banks have been consistently meeting the targets set for the agricultural credit flow in the recent years.
Murkherjee further said the government would now promote a second green revolution in the eastern part of the country, push organic farming and would develop 15 more mega food parks to strengthen food security.
Other import points on agriculture and food security in the finance minister’s speech:
* Cold storage facilities to be recognised as infrastructure sector.
* Comprehensive policy on further developing PPP (public-private-partnership) model.
* Farmers need access to affordable credit.
* Moving to improve nutritional security.
* Necessary to accelerate production of fodder.
