Area
India
Commodity Group
Grains
Commodity
All
Date
01/02/2021
Policy Category
Consumption and marketing
Policy Instrument
Government market intervention
Description
The Indian Ministry of Finance and Corporate affairs announced a target of INR 16.5 trillion (USD 223 billion) in farm loans for the next fiscal year 2021/22 (compared with INR 15 trillion in the current fiscal year 2020/21). A series of measures to support an inclusive agriculture sector were also announced. Existing schemes are to be upgraded to bring transparency in property ownership. Farm credit allocations will reach INR 16.5 trillion (USD 223 billion) in financial year 2022 (primarily to animal husbandry, dairy and fisheries); the Rural Infrastructure Fund is increased by 33 percent to INR 400 billion (USD 5.5 billion); the Micro-Irrigation Fund will double to INR 100 billion (USD 1.37 billion); support to increase value addition and exports will be available to 22 perishable products, instead of 3, under the Operation Green Scheme.
