(v) Despite development in every walk of life poor farmer still depend for his/her credit on informal sector?
(vi) Any other new developments made by Govt. for rural credit ?
Answers
Answer:
A:-. there are some reason that poor farmer still depends on informal source of credit
1. they can get credit easily by informal sector as compared to formal sector
2. there is no requirement of collateral
in informal source of credit
3. still there is limited amount of banks in rural areas so they have to depend on informal secter
B:-The government is redrawing a micro-credit programme to help pull rural households out of poverty. The proposal is to lend up to Rs 1 lakh per family in the next three to five years, with the loans coming collateral-free and with subsidised interest rates.
“We have simplified the process for accessing loans... We are getting into the details of livelihood each house can undertake so that the money can be lent accordingly,” said rural development secretary Amarjeet Sinha.
Nearly 8.5 crore poor households identified in the Socio Economic and Caste Census will be linked to the plan by 2019.