Farmers will get more loans from NABARD to boost entrepreneurship in the agricultural sector

Happy farmer

Every effort is made to promote farmer entrepreneurship in the agricultural sector, in order to double the income of farmers by 2022.

Shivraj Singh Chouhan, Chief Minister of Madhya Pradesh, made an important announcement in this episode. Priority will be given to increasing farmers’ entrepreneurship in the agricultural sector.

In fact, the National Bank for Rural and Agricultural Development (NABARD) predicted that farmers in Madhya Pradesh will get 1 lakh 18 thousand 288 crore rupees for harvest loans. In addition, it should provide a total of 62,693 crores rupees in agricultural term loans. At the same time, a total loan of 2 lakh 42 thousand 967 crore is scheduled for the year 2022-23. Approximately 74% of this amount will be allocated to agriculture.

Let us tell you that under MSME 39,000 267 crore and other export credits of priority sectors, education, housing, renewable energies, others and social infrastructure loans of 22 thousand 715 crore will be available.

The Indian government has stimulated IIDF and Micro irrigation Funds through Rs. 10,000 crore and 5000 rupees crore, respectively, for the development of rural infrastructure, according to Minister of Finance Jagdish Deora. In this approach, Madhya Pradesh supports the irrigation sector.

He added that empowerment of women and the promotion of women’s support groups (SHG)are the main concerns of State government. Not only that, he expressed his gratitude for NABARD’s help in agricultural growth and expressed his optimism that NABARD’s aid will continue to be realized in the achievement of the goals. Prime ministers and of the chief minister ambitions.

The agricultural sector plays an important role in the self-sufficiency of Madhya Pradesh

Minister of Finance Jagdish Deora said the state government’s main goal is to make Madhya Pradesh self-sufficient by 2023.

For this, the emphasis is on the need to increase KCC blanket at 100% state farmers, invest in rural infrastructure and make efforts to finance agricultural producer groups.

Source link

About Sharon Joseph

Check Also

East African countries embark on lending frenzy to fill huge budget deficits

By ALLAN OLINGO East African economies are starting the new year with a borrowing frenzy …