“Co-operative credit plays a vital role in agriculture Finance”. Elaborate with suitable examples.
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The basic role of credit in Agriculture is to provide capital to acquire any kind of productive assets, land and/or machinery. Credit provides the means for many farmers to adjust their operations to keep up with the constant changes and, by doing so, to improve their operations.
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Explanation:
The capacity of farmers to save and invest is very low. The agricultural productivity is low due to low use of inputs.
The farmers therefore, need credit to increase productivity and efficiency in agriculture.
This need is increasing over the years with the rise in use of fertilizers, mechanisation and rise in prices.
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