( ISSN 2277 - 9809 (online) ISSN 2348 - 9359 (Print) ) New DOI : 10.32804/IRJMSH

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FLOW OF AGRICULTURAL CREDIT BY BANKS DURING THE ‘DOUBLING OF AGRICULTURAL CREDIT POLICY’ IN INDIA: SOME ISSUES

    2 Author(s):  DR. T. N. SALVE , MR. JIVAN P. BIRADAR

Vol -  5, Issue- 6 ,         Page(s) : 272 - 279  (2014 ) DOI : https://doi.org/10.32804/IRJMSH

Abstract

Agriculture including allied activities, accounted for 14.5 per cent of gross domestic product (GDP) at 2004-05 prices, in 2010-11 as compared to 14.7 per cent in 2009-10 and 46.3 per cent in 1970-71. For the modernization and to create competitiveness in agricultural sector credit is an important input. Since independence Government of India (GOI) has been taken various measures to institutionalize the agricultural credit. The flow of credit to agriculture sector was not increased as expected by policy maker in Ninth FYP. In light of this, the GOI announced a ‘Comprehensive Policy on Agricultural Credit (CPAC)’ on 18 June 2004. Subsequently, the Union Budget for 2004-05 presented on 8 July 2004 proposed ‘Doubling of Agricultural Credit (DAC)’ in the remaining period of three years of the Tenth FYP i.e. during 2004-05, 2005-06 and 2006-07 over 2003-04 as the base year.

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