The release stated that continuation of the support is critical to sustaining the flow of institutional credit to agriculture, which is vital for enhancing productivity and ensuring financial inclusion for small and marginal farmers.
Kisan Credit Cards facilitate short term loans for 7.7 crore farmers, fishermen, and dairy farmers. The loan limit has been raised under Modified Interest Subvention Scheme.
Talks are on to also conceptualise a PM-SVANidhi kind of scheme for tenant farmers
Though the initiative for issuance of kisan credit card (KCC) has brought in some cheer among industry players, the segment under agri-credit has been under some stress lately.
Additionally, the government will also facilitate the implementation of the Digital Public Infrastructure (DPI) for the agriculture sector.
The total outstanding amount under the KCC scheme rose to Rs 8.85 lakh crore in 2023 from Rs 8.13 lakh crore in 2022.
Under this initiative, farmers will be given credit for meeting their financial requirements of agricultural and other allied activities along with post-harvest expenses, an official said.
A door-to-door KCC campaign and a manual of the Weather Information Network Data Systems (WINDS) portal will also be launched at an event to be held at the Pusa complex.