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Importance Of Indian Agriculture

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Agriculture plays a crucial role in the development of the Indian economy. It accounts for about 19 per cent of GDP and about two thirds of the population is dependent on the sector. The importance of farm credit as a critical input to agriculture is reinforced by the unique role of Indian agriculture in the macroeconomic framework and its role in poverty alleviation. Recognizing the importance of agriculture sector in India’s development, the Government and the Reserve Bank of India (RBI) have played a vital role in creating a broad-based institutional framework for catering to the increasing credit requirements of the sector. The Reserve Bank has been very active in reinvigorating the co-operative credit movement in the country through a …show more content…
It was the highest amount compared to other categories of farmers. The small farmers needed 7392.66 per acre followed by the medium farmers, 4125 per acre. It showed that the demand for investment loan had decreased along with size of land holding among borrowers. On an average, all borrowers demanded investment loan 9668.33 per acre. The non borrowers did not demand for investment loan.
3. Availability of agriculture credit
Credit is one of per- requisites for farmers to increase the agricultural development of a country. In the current risky economic environment, credit should be managed as closely and carefully as other production inputs. Provision of institutional credit to agriculture has assumed growing significance in the new strategy for agricultural development. Availability of credit was analyzed under the following heads.
1. Farmer of category wise availability of crop loan.
2. Farmer of category wise availability of investment loan Farmer category wise availability of crop …show more content…
All of them were the borrowers of crop loan. The per acre availability of crop loan had decreased along with the size of land holding among borrowers. The per acre availability of crop loan was 87348.48 for marginal farmers in case of borrowers. The small farmer borrowers borrowed an amount of 21806.5 per acre while it was only as 4750 per acre for medium farmer borrowers. On an average, all the borrowers had availed an average amount of crop loan 30282.22 per acre. Non borrowers did not avail crop loan as they did not demand for it. Availability of investment loan Investment loan is provided in agriculture for creating adequate infrastructure to adopt new strategy of production. The core of new production strategy implies the application of heavy doses of fertilizers, intensive irrigation and modern equipments etc., which essentially assume the development of an adequate infrastructure on the farm. The table -5 shows farmer category wise distribution of investment loan among borrowers.

TABLE-5
FARMER CATEGORY WISE DISTRIBUTION OF AVALIABLITY OF INVESTMENT

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