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Agri credit target hiked to Rs 16.5 lakh crore in FY22 to shield farmers from cash crunch: Tomar

PTI     February 23, 2021

Agriculture Minister Narendra Singh Tomar on Tuesday said the government's decision to increase the agriculture credit target to Rs 16.5 lakh crore for the next fiscal will help in easing the liquidity crunch of farmers. In the Budget, Finance Minister Nirmala Sitharaman proposed 10 per cent hike in the agriculture credit target to Rs 16.5 lakh crore for the next fiscal from Rs 15 lakh crore in this financial year.

Addressing a meeting on the National Food Security Mission (NFSM) programme, Tomar said the government has taken several measures in the last six-and-a-half years to boost agriculture production and farmers' income.

"The provision of Rs 16.5 lakh crore for the farm loan in the general budget will help in solving the cash crunch of farmers," the minister said.

The government is working on a mission mode to enhance the production of pulses and oilseeds, he added.

He also said the pulses output has increased significantly in the last few years and there is a need to enhance it further.

The minister said the acreage of mustard has increased and stressed on sustaining the momentum.

Tomar also emphasised that farmers should get benefit of the minimum support price (MSP).

He also highlighted the government's various initiative for the farm sector such as the PM-KISAN scheme.

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