Farm credit target has been raised to a record high of 11 lakh crore rupees for 2018-19.
The third claim is that farm credit target has been raised to a record high of 11 lakh crore rupees for 2018-19. The Finance minister, in his budget speech (2018-19) announced that the target for the institutional credit for the agricultural sector has been raised to 11 lakh crore rupees from 10 lakh crores in 2017-18 and from 8.5 lakh crore in 2014-15. In the 2013-14 budget, the then Finance Minister had announced increasing the target of farm credit to 7 lakh crore rupees for 2013-14. The following graph shows the increase in farm credit targets in the Union budget since 2009-10. The data has been gathered from the union budget speeches over the years.Successive governments have increased farm credit target every year. During the 2nd term of UPA between 2009-10 to 2013-14, the farm credit target increased from 3.3 lakh crore rupees to 7 lakh crore rupees (an increase of more than 100%). On the other hand, during the current government, the farm credit target has increased from 8 lakh crore rupees in 2014-15 to 11 lakh crore rupees in 2018-19 (an increase of about 40%). [...] Fact: Farm credit target has been set at 11 lakh crores in the budget of 2018-19. Though it is a record high, this is inline with the increase that happens every year during successive governments. Hence, the claim is PARTLY TRUE. It also has to be noted that successive governments have increased the farm credit target and the increase during the UPA-2 was over 100%, more than the percentage increase during the current government.