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The Agriculture Credit Has Increased By 11%

Nashik: In the Union budget for the financial year 2017-18, the agriculture credit target of Rs 10 lakh crore and experts feel that this budget will provide boost to the agricultural sector in Nashik.

In 5 years by 2022, the government is committed to double farmers' income and for this, the government has increased agricultural credit target by 11 percent. Moreover, two dedicated funds for dairy development and micro irrigation announced by the government with total provisions amounting to Rs 13,000 crore.

"The provision of Rs 10 lakh crore agricultural loan for farmers will definitely help boost the agricultural sector. The district will be most benefitted due to the provision of agricultural credits. Farmers here are engaged in horticulture and polyhouse farming. The grapes, onion, pomegranates, tomatoes and vegetables are the major crops of the district. The grapes and onions produced here are sent across the globe. Moreover, Nashik district supply vegetables mostly to Mumbai and Gujarat," said Nanasaheb Patil, director of the National Agricultural Co-operative Marketing Federation of India Ltd (NAFED).

"Increasing provision for agricultural credit in the union budget is a really good move and will definitely boost entire agricultural sector of the country. But there is a need to make changes in agricultural credit limit fixed by the NABARD. The agricultural credit limit for onions is Rs 17,000 per acre for onions, while actual expenses for growing onions is Rs 50,000 per acre," said Manik Patil, Nashik divisional president of Maharashtra Rajya Draksha Bagayatdar Sangh.

"The credit limit needs to be increased to pass on benefits to the farmers, because agricultural credit limit for grapes as per Nabard norms is Rs. 90,000 per acre, but expenses for grapes are Rs 1.25 lakh per acre,” he added.