Economic Survey and Agriculture Sector

The Economic Survey for the year 2006-07 has come up with a special focus on the agriculture sector of the India’s Economy. It has focused the sector with a special package for farmers in 31 districts of Andhra Pradesh, Maharashtra, Karnataka and Kerala. The survey has specially focused for solving the problem of farmer’s suicide.

A total sum of Rs.2718 crores will be distritibuted among 31 affected districts among above states. The total sum will be distributed among the state Governments and the central Governments.

A total credit flow of Rs.21,422 crore will be provided among these 31 districts in the year 2006-07. All the Co-operative banks as well as RRBs have been advised to cover all farmers under Kisan Credit Card Scheme by March 2007. Apart from this, the Government has also decided from kharif 2006-07, farmers should receive crop loans upto a principal amount of Rs.3 lakh at 7 per cent rate of interest.

The Government also announced a total package for reviving the Short-Term Rural Cooperative Credit Structure. The NABARD will implement these policies.