Agricultural credit disbursement witnesses an average annual growth rate of more than 13% over the past decade

In order to boost the credit to the rural sector with the help of effective and hassle-free agriculture credit, the Government has been fixing annual targets for Ground Level Agriculture Credit (GLC). Over the past decade (2014-15 to 2023-24), agricultural credit disbursement has witnessed an average annual growth rate of more than 13%, reflecting the increasing financial support extended to the sector. In the financial year 2023-24, agricultural credit disbursement reached ₹25.48 lakh crore. For FY 2024-25 the Government of India has set GLC target of ₹27.5 lakh crore with a dedicated sub-target of ₹4.20 lakh crore for allied activities viz. Dairy, Poultry, Sheep Goat Piggery, Fisheries and Animal Husbandry-Others. This marks more than threefold increase in Ground Level Credit (GLC) target, which has grown from ₹8 lakh crore in FY 2014-15 to ₹27.5 lakh crore in FY 2024-25. This underscores the substantial progress made in agricultural and allied sector credit disbursement, highlighting the effectiveness of targeted credit policies in meeting sectoral demands.

Against the target of ₹27.50 lakh crore, agriculture credit to the tune of ₹19.28 lakh crore has been disbursed as of 31.12.2024, registering 70% achievement.

Agricultural credit targets set with an allied activities sub target, with partial disbursement reported mid year. The Government set an elevated Ground Level Credit (GLC) target for FY 2024-25 with a dedicated sub-target for allied activities (dairy, poultry, sheep, goat, piggery, fisheries, animal husbandry), reflecting multi-year growth in agricultural credit; as of 31 December 2024 disbursements constituted a measurable proportion of that annual GLC target, demonstrating partial achievement and functioning as a performance metric for rural credit policy.