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Centre Taking Efforts to Provide Agriculture Loans to Farmers

In Kota, Rajasthan, Union Minister of Agriculture and Farmers Welfare Shri Radha Mohan Singh today addressed the 96th Annual Conference of Kota Co-operative Societies Ltd. 108 R.

In conference Shri Radha Mohan Singh highlighted some points like Employment opportunities are being created for farmers & youth through cooperative societies at the local level, To strengthen Co-operative Societies, Central Government has made concerted efforts and Efforts are on to make women of the villages self-reliant.

Central Government is working expeditiously to provide agriculture loans to farmers according to their needs and in a timely manner, said Union Minister.

NABARD is making groups of farmers and agriculture producers to provide them cheap agricultural loans from banks. Till January 2016 across the country 14.43 lakh joint liability groups were formed and by March 2016, NABARD has set up approximately 2424 producer groups. From April 2005 to March 2014, Rs. 6775 crore were spent. Whereas, the new Government has, from April 2014 until December 2015, extended Rs.7084 crore as financial assistance to joint liability groups, said Shri Singh.

The National Sample Survey Organisation (NSSO) survey, 46 percent of farming households are burdened by debt and the loans are from different institutions. There is imbalance in the availability of credit to the agriculture sector and amongst small and big farmers. Credit availability per capita in the region is much lower than in other regions, Shri Singh informed.

The Minister said for the development of the rural economy and to increase employment opportunities in the agricultural, cooperatives have an important role to play.