New Delhi: The government has sanctioned 1.22 crore Kisan Credit Cards sanctioned with credit limit of Rs 1,02,065 crore to small and marginal farmers under the PM-Kisan scheme.
“In an effort to buffer the agricultural sector from the shock of COVID-19, a special saturation drive is underway to provide concessional credit to farmers through Kisan Credit Card (KCC). As on 17.08.2020, 1.22 crore KCCs have been sanctioned with credit limit of Rs. 1,02,065 crore. This will go a long way in reviving the rural economy and accelerating agricultural growth,” the Ministry of Finance said.
It may be recalled that as part of the Aatma Nirbhar Bharat Package, the Government had announced provision of a concessional credit of Rs 2 lakh crore which is likely to benefit 2.5 crore farmers, including fishermen and dairy farmers.
Finance Minister Nirmala Sitharaman on 15 May 2020 has announced to cover 2.5 crore new farmers under the KCC scheme. This will provide an additional liquidity of Rs 5 lakh crore in the hands of farmers, who are suffering from the recent downturn of economy.
As, dairy is among the fastest growing sectors of the economy with a CAGR of above 6% in the last 5 years, providing short term credit to dairy farmers for meeting their requirements for working capital, marketing etc. will boost their productivity tremendously.