Govt’s plan to cover 80% farmers falling apart as banks have disbursed loans to only 3.1 million farmers in the kharif season
Mumbai: Maharashtra government’s plan to cover 80% of the state’s 13.7 million farmers under institutionalised crop credit in 2016-17 seems to be falling apart. By 30 June, a large network of public, private and district co-operative banks had disbursed crop loans to only 3.1 million farmers in the current kharif season. Data compiled by Bank of Maharashtra, which is the convener of the State Level Bankers’ Committee (SLBC), a representative body of all lending institutions, reveals that around Rs.20,880 crore has been extended to 3.1 million farmers till 30 June against the SLBC’s kharif season target of nearly Rs.37,677 crore.
The rabi season crop credit target has been fixed at Rs.13,558 crore. The state has achieved only 41% of the total credit plan of Rs.51,235 crore for 2016-17 kharif and rabi seasons till 30 June. Only 55% of the kharif season credit target has been achieved.
Charudatta Arkatkar, secretary of SLBC and deputy general manager, Bank of Maharashtra, confirmed that the state had achieved 55% of the total crop credit disbursement target for kharif and rabi seasons in 2016-17 by 30 June. This is 1% more than the previous year’s kharif credit disbursement in the corresponding period.
Maharashtra is primarily a kharif season region since most of the state’s commercial crops and foodgrains are cultivated during this season which starts with the onset of monsoon.
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