FM Arun Jaitley stated the volume of institutional credit for agriculture sector from year-to-year increased from Rs.8.5 lakh crore in 2014-15 to Rs.10 lakh crore in 2017-18 and he proposed to raise this to.....crore for the year 2018-19.

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Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

FM Arun Jaitley stated the volume of institutional credit for agriculture sector from year-to-year increased from Rs.8.5 lakh crore in 2014-15 to Rs.10 lakh crore in 2017-18 and he proposed to raise this to____crore for the year 2018-19.

A	Rs. 11 lakh crore
B	Rs. 13 lakh crore
C	Rs. 15 lakh crore
D	Rs. 17 lakh crore

Explanation:

Detailed explanation-1: -For instance, credit worth Rs 11.68 lakh crore was given to farmers in 2017-18, much higher than the Rs 10 lakh crore target set for that year.

Detailed explanation-2: -The agricultural credit target is ₹18 lakh crore for the current 2022-23 fiscal.

Detailed explanation-3: -It could be noted that in the Union Budget 2021-22, Finance Minister Nirmala Sitharaman announced to enhance the allocation to the RIDF to Rs 40, 000 crore from Rs 30, 000 crore.

Detailed explanation-4: -It aims to provide short-term crop loans up to ₹3 lakh to farmers at an interest rate of 7% per annum. Lending institutions – PSBs and private sector commercial banks offer interest subvention of 2 % by the government. The policy came into force with effect from 2006-07.

There is 1 question to complete.