Farm credit to cross Rs 7 lakh cr, exports to surge over $45 bn

Chidambaram also stated that agricultural exports are likely to cross $45 billion this fiscal, as against $41 billion in 2012-13.

hidden February 17, 2014 11:57:46 IST
Farm credit to cross Rs 7 lakh cr, exports to surge over $45 bn

New Delhi: Agriculture credit is likely to exceed the target of Rs 7,00,000 crore while farm exports are expected to increase to over $45 billion in the current fiscal, Finance Minister P Chidambaram said today.

"We are proud of stellar performance of agriculture. Agriculture credit is likely to touch Rs 7,35,000 crore, exceeding the target of Rs 7,00,000 crore," he said while presenting the interim Budget for 2014-15 fiscal.

Farm credit to cross Rs 7 lakh cr exports to surge over 45 bn

Moving ahead. Reuters

Chidambaram also stated that agricultural exports are likely to cross $45 billion this fiscal, as against $41 billion in 2012-13.

Highlighting the improved growth of agriculture sector during the UPA tenure, the minister said, "Agriculture GDP growth increased to 3.1 percent in five years of UPA-I, further to 4 percent in the first four years of UPA-2. In the current year, agri growth is estimated at 4.6 percent."

Chidambaram attributed the likely increase in farm growth this fiscal to estimated bumper production in various crops.

"Foodgrain production in 2012-13 was 255 million tonnes. The estimate for the current year is 263 million tonnes. The estimate of production of sugarcane, cotton, pulses, oilseeds point to a new record," he said.

The likely record foodgrain production is on the back of a good monsoon this year.

PTI

Updated Date:

also read

Earth Day 2021: Joe Biden to host Earth Day climate Summit; how to watch it online, who is attending
World

Earth Day 2021: Joe Biden to host Earth Day climate Summit; how to watch it online, who is attending

Biden invited 40 national leaders and some of the main polluters India, China, UK, and Russia have accepted their invitations.

In London, West End theatres prepare to welcome audiences back a year after lockdown
Arts & Culture

In London, West End theatres prepare to welcome audiences back a year after lockdown

The stages that collectively employ 3,00,000 people were ordered shut a week before the country went into full lockdown in March 2020. They have remained closed for most of the last 13 months.

As demand for public transit reduces drastically due to pandemic, London's Tube battles cash crisis
World

As demand for public transit reduces drastically due to pandemic, London's Tube battles cash crisis

The pandemic has left the world’s oldest subway system facing an uncertain future. The Tube, which relies heavily on ticket revenues, faces a cash crisis.