Rs 11 lakh crore Agri credit target achievable by next fiscal: FM Jaitley

Updated:11 months, 3 weeks ago IST

New Delhi, Feb 27 (ANI): Union Finance Minister Arun Jaitley opined that the agriculture credit flow target of Rs.11 lakh crore for the Financial Year 2018-19 was achievable by the banking sector. Addressing the Board of National Bank for Agriculture and Rural Development (NABARD), Jaitley said the realisation of the target would significantly add to the momentum of doubling the farmers' income by 2022. Jaitley also reviewed the funds announced in the earlier Union Budgets and stressed the need for all stakeholders to collaborate to improve the farmers' income. The finance minister further stated that the banking sector must invest in long-term assets to improve the capital formation in the agriculture sector. He also claimed that investments in financial technology over the past few years have brought in efficiency, speed, and transparency in the rural financial ecosystem.

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