Plan allocation for agriculture up 300% during 2003-04 and 2008-09

While the plan allocation for agriculture has gone up by 300 percent between the period 2003-04 and 2008-09, the agriculture credit disbursement too has increased from Rs 87,000 crore to Rs 2,50,000 crore upto 2007-08. This was stated by the Finance Minister, Shri Pranab Mukherjee while presenting the Interim Budget 2009-10 in the Lok Sabha here today.

The Finance Minister further stated that to strengthen short-term credit structure, revival package in 25 states involving financial assistance of about Rs 13,500 crore is also being implemented by the government.

The government will continue to provide interest subvention in 2009-10 to ensure that farmers get short-term crop loans upto Rs 3 lakhs at seven per cent per annum, he added.

Source : Equity Bulls

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