Budget 2023 | Govt raises agriculture credit target by 11% to ₹20 lakh crore for FY24
The Hindu
A new sub-scheme of Pradhan Mantri Matsya Sampada Yojana will be launched to enable activities of fishermen, fish vendors, and micro and small enterprises, the Finance Minister said
The government on February 1 announced an 11% hike in agriculture credit target to ₹20 lakh crore for the next fiscal year with a focus on animal husbandry, dairy and fisheries.
The agricultural credit target is ₹18 lakh crore for the current 2022-23 fiscal.
Among other big-ticket announcements, the Finance Minister Nirmala Sitharaman in her Budget speech said the government will launch the “Aatmanirbhar Clean Plant Programme” to boost the availability of disease-free, quality planting material for high value horticultural crops at an outlay of ₹Rs 2,200 crore.
A new sub-scheme of Pradhan Mantri Matsya Sampada Yojana will be launched with a targeted investment of ₹6,000 crore to further enable activities of fishermen, fish vendors, and micro and small enterprises, improve value chain efficiencies, and expand the market, she said.
Also Read | Emergency Credit Line Guarantee Scheme supported MSMEs during COVID, led to remarkable credit growth: Economic Survey
"The agriculture credit target will be increased to ₹20 lakh crore with a focus on animal husbandry, dairy and fisheries," the Finance Minister said.
The government has been increasing the credit target for the farm sector every year.
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