Kisan Credit Card: 5 reasons behind the sharp fall in issuance of KCC to farmers
The Kisan Credit Card Scheme was first implemented to ensure loan facility is made available at cheap rates of interest to the farmers.
The total number of Kisan Credit Cards (KCC) issued in the last three years has fallen by more than 56 per cent, while the amount sanctioned under it has jumped nearly five times, the Minister of Agriculture and Farmers Welfare Jayant Sinha informed Parliament. Among states, Assam, West Bengal, and Tripura have seen the sharpest decline in the number of KCC issued with more than 80 per cent drop, Sinha told Parliament in his reply.
The Kisan Credit Card Scheme was first implemented to ensure loan facility is made available at cheap rates of interest and concessional terms. However, experts suggest that people started misusing loans to spend on non-agricultural and consumer activities, thus later government might have become more stringent in terms of issuance of the cards.
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