New Delhi, May 14 — Hours after India’s Finance Minister Nirmala Sitharaman on Thursday announced that the Centre has extended the incentives on crop loans, which was due from Mar 1, till May 31, Satyam Shivam Sundaram, Partner, Government and Public Sector, EY India, said the move is a big step towards institutional credit to the marginal and small farmers.
In a statement, the EY India said: “The announcement by the government-linked to the concessional loans for farmers through Kisan Credit card and emergency working capital fund through NABARD is a big step towards institutional credit to the marginal and small farmers, who have hitherto mostly been availing credit from informal sector at a very high rate.”The MGNREGA scheme for migrant workers would not only provide employment but also open-up an avenue for creation of meaningful infrastructure which can spur economic growth for rural India, provided it is managed and planned well as a convergence of multiple schemes, it added.For any query with respect to this article or any other content requirement, please contact Editor at contentservices@htlive.com
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