FE
The government is likely to set agriculture credit target of Rs 22 trillion for the next financia year, up 10% from the current year’s target which may be overshot, sources said.
Of the current year’s farm credit target of Rs 20 trillion, the commercial banks, cooperative banks and regional rural banks (RRBs) have disbursed Rs 16.37 trillion, 81% of the target in the first three quarters of FY24.
“The credit demnd and disbursal for agriculture and allied sector have been encouraging,” an official said. In FY23, Rs 1.19 trillion (12%) of agriculture credit was towards allied sectors such as animal husbandry, dairy, poultry, and fisheries out of total disbursal of Rs 18.5 trillion. In the current fiscal a sub-target of Rs. 2.93 trillion of credit has been set for the animal husbandry sector.
