State of Rural/Agriculture Banking and Crop Insurance: Standing Committee on Finance (2015-16)
The Standing Committee on Finance present this Thirty Fourth Report on the subject "State of Rural / Agriculture Banking and Crop Insurance". A comprehensive and viable agricultural finance mechanism and a financially inclusive framework to increase the coverage of crop loan, rural credit in general as also infusion of finance in all the unbanked / under banked areas, including tribal pockets, backward areas and remote hamlets in the country have been deliberated upon in the Report. It is of significance that agriculture and related options should be made viable while protecting and sustaining the incomes and economic well being of small / marginal farmers and farm workers. Our credit mechanism should acts as a catalyst and stimulate integrated development of Rural sector. The Crop insurance regime should be a critical input such as to cushion the entire farming community from the vagaries of nature. The interconnected and interdependent nature of agriculture besides being an important component of our economic growth makes it necessary for a holistic credit policy and delivery mechanism.