New Delhi. The government may increase the amount of agricultural loan in the current financial year 2024-25. According to sources, with the aim of promoting one district, one crop initiative and agriculture related economic activities, the government may allocate Rs 25 lakh crore for agricultural loan in the current financial year.

final decision is yet to come

In the last financial year, Rs 20 lakh crore was allocated for agriculture loan, but more than Rs 24 lakh crore had to be allocated for agriculture loan. NABARD estimates the loan for the agriculture sector and on that basis, the amount is allocated for the loan.

NABARD has submitted a report in this regard to the Finance Ministry and now the final decision has to be taken by the Finance Ministry. The government wants to encourage farmers to produce cash crops and special crops of their respective regions.

What is its foundation

Therefore, on the lines of one district, one product in manufacturing, one district, one crop initiative has been taken in the agriculture sector. Farmers in the agriculture sector are being asked to leave traditional methods and adopt other modern options so that they can make their crops export-worthy.

When is the budget coming?

The Modi government is going to present the Union Budget on 23 July this month. Farmers have a lot of expectations from the upcoming budget. In such a situation, Finance Minister Nirmala Sitharaman may be kind to the farmers.