Agriculture Credit Soars: 70% of FY25 Target Achieved

The Finance Ministry announced a significant achievement in agriculture credit, with Rs 19 lakh crore disbursed in nine months of the current fiscal year, reaching 70% of the Rs 27.50 lakh crore target. This marks considerable progress in financial support for the agricultural sector.

The Finance Ministry has reported a substantial progression in the disbursement of agriculture credit. As of December 31, 2024, Rs 19.28 lakh crore has been distributed, marking a 70% attainment towards the fiscal target of Rs 27.50 lakh crore for FY25.

This growth is part of a broader government strategy to boost rural sector financing. Over the decade, agricultural credit has expanded at an average annual growth rate over 13%, demonstrating significant government support.

The Government of India has announced a GLC target of Rs 27.5 lakh crore for 2024-25, including a Rs 4.20 lakh crore sub-target for allied activities. This reflects a remarkable increase from Rs 8 lakh crore in 2014-15, showcasing the impact of strategic credit policies.

(With inputs from agencies.)