FM allocates Rs. 50000 crore for The Short Term Cooperative Rural Credit Fund

The Short Term Cooperative Rural Credit (STCRC), Refinance Fund was announced in Union Budget 2008-09 with initial corpus of Rs 5,000 crore. In order to ensure increased and uninterrupted credit flow to farmers and to avoid high cost market borrowings by NABARD, the Finance Minister proposed to allocate an amount of Rs 50,000 crore for STCRC Fund during 2014-15.

The issue of profitability of small holding based agriculture has assumed importance in view of increasing proportion of small and marginal farmers in the country. The Finance Minister proposed to supplement NABARD's Producers' Organization Development Fund for Producer's development and upliftment called 'PRODUCE' with a sum of Rs 200 crore which will be utilized for building 2,000 producers organizations across the country over the next two years.

Source : Press Information Bureau

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