Kisan Credit Card Scheme Boosts Farmers with Over Rs 10 Lakh Crore in Loans

The Kisan Credit Card (KCC) scheme, as of December 31, 2024, has provided over Rs 10 lakh crore in loans, benefiting 7.72 crore farmers. The finance ministry highlights the significant increase in affordable working capital loans, reflecting credit deepening in agriculture and reduced reliance on non-institutional loans.

The finance ministry announced on Tuesday that the Kisan Credit Card (KCC) scheme has disbursed more than Rs 10 lakh crore in operative accounts, benefiting approximately 7.72 crore farmers as of December 31, 2024. This marks a substantial rise from Rs 4.26 lakh crore in March 2014.

The increase demonstrates a significant expansion in the availability of affordable working capital loans for farmers, aimed at supporting agriculture and associated activities. The finance ministry noted that this trend showcases a deepening of credit in the agricultural sector, decreasing farmers' reliance on non-institutional credit sources.

The KCC is designed to provide farmers with timely, affordable credit for essential agricultural inputs, such as seeds and fertilizers. An extension in 2019 also covered allied activities like animal husbandry and fisheries. Recent budget announcements aim to further increase the loan ceiling, enhancing support for farmers.

(With inputs from agencies.)