Page 50 - Putting Farmers First
P. 50
ACCESS TO CREDIT
One of the most important enablers of
agriculture is credit that is used as capital
by farmers. The more institutional credit
farmers get, the greater their welfare.
Over the decades, being forced to avail
debt at unfair interest rates from private
moneylenders has troubled farmers the
most.
This puts them in a vicious cycle
of debt, where lack of sufficient
capital to make agriculture
profitable leads to even more debt.
However, the Modi government has
worked to enhance both the quantity and
the spread of farm credit. While farm credit
targets have reached record levels, the
amount of institutional credit availed by
farmers has almost doubled in just six years.
Kisan Credit Cards have also enhanced
the government’s outreach to farmers.
43 | Putting Farmers First
