Government of India in the Union Budget 2016-17 had announced its resolve to double the income of farmers by 2022.
The strategy to
achieve this goal, inter-alia, include,
-
Focus on large budget irrigation
-
Provision of quality seeds and nutrients
-
Investments in warehousing and cold storage chains
-
Promoting food processing
-
Creation of a national farm market, removing distortions and
develop infrastructure such as e-platform across 585 stations
-
Strengthening of crop insurance scheme
-
Promotion of ancillary activities like poultry, bee-keeping and
fisheries.
Bank should simplify their documentation for crop loans and
ensure speedy sanctioning and disbursal.
The
Lead
Bank Scheme should be leveraged for doubling
farmer’s income by 2022. Lead banks are accordingly advised to ensure the
following:
a)
Work closely with NABARD in preparation of Potential Linked
Plans & Annual Credit Plans.
b)
Include ‘Doubling
of Farmer’s Income by 2022’ as a regular agenda in SLBC, DCC, DLRC and BLBC.
c)
Use
the benchmarks as provided by NABARD.
d) Map the overall
strategy to the agriculture/agro-ancillary lending plan of your bank.
Based on RBI circular dated 29/09/2016. For any further
clarification please refer www.rbi.org.in
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