{"id":36123,"date":"2024-03-29T11:01:03","date_gmt":"2024-03-29T11:01:03","guid":{"rendered":"https:\/\/edukemy.com\/blog\/?p=36123"},"modified":"2024-03-29T11:01:35","modified_gmt":"2024-03-29T11:01:35","slug":"agricultural-credit-upsc-economy-notes","status":"publish","type":"post","link":"https:\/\/edukemy.com\/blog\/agricultural-credit-upsc-economy-notes\/","title":{"rendered":"Agricultural credit – UPSC Economy Notes"},"content":{"rendered":"\n
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Agricultural credit stands as a fundamental component for driving agricultural development initiatives. Following independence, the Government embraced the institutional credit approach, utilizing various entities such as cooperatives, commercial banks, and regional rural banks to furnish farmers with adequate credit at favorable interest rates. As agriculture underwent modernization in the post-green revolution era, the demand for agricultural credit surged.<\/p>\n\n\n\n

Yearly, the government sets higher credit targets for the agricultural sector, aiming to double farmers’ income by 2022. Notably, agricultural credit disbursement has consistently surpassed set targets each fiscal year.<\/p>\n\n\n\n

Credit plays a pivotal role in boosting farm productivity. Institutional credit mechanisms also serve to disconnect farmers from non-institutional sources, where they often resort to borrowing at exorbitant interest rates.<\/p>\n\n\n\n

Since the Green Revolution, the investment prerequisites for cultivation have steadily risen. Nearly all inputs, including seeds, pesticides, fertilizers, machinery like motor pump sets and tractors, and various services such as machinery rental, are procured from the market.<\/p>\n\n\n\n

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