Agri credit disbursement up at Rs 94277.79 cr
The disbursement of agri credit by 27 commercial banks has shot up substantially, as it's more than doubled from Rs 42210.77 cr in 2003-04 to Rs 94277.79 cr in 2005-06 and led to betterment of farmers overall conditions in the country, according t...
By Mayur Jha, TNN |
The disbursement of agri credit by 27 commercial banks has shot up substantially, as it's more than doubled from Rs 42210.77 cr in 2003-04 to Rs 94277.79 cr in 2005-06 and led to betterment of farmers overall conditions in the country, according to findings by the Associated Chambers of Commerce and Industry of India (Assocham).
The chamber expects that the current momentum of agri credit disbursement by scheduled commercial banks will have multiplier effect and it might go over Rs 1,20,000 crore by end of current fiscal.
The chamber has, therefore, suggested to the Finance Minister, Mr P Chidambaram to come out with incentives and grants for creating agricultural research institutes all over the country to impart the farmers necessary training to take advantages of increased disbursement of agri credit to increase their farm yield which has currently gone down significantly.
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