[Download] "Credit Disbursement by Primary Agricultural Credit Societies in Madhya Pradesh: An Inter-District Analysis." by Madhya Pradesh Journal of Social Sciences # Book PDF Kindle ePub Free
eBook details
- Title: Credit Disbursement by Primary Agricultural Credit Societies in Madhya Pradesh: An Inter-District Analysis.
- Author : Madhya Pradesh Journal of Social Sciences
- Release Date : January 01, 2008
- Genre: Social Science,Books,Nonfiction,
- Pages : * pages
- Size : 234 KB
Description
Introduction Agriculture continues to be the most vital sector of Indian economy, contributing a major share to our national income and also providing livelihood to the majority of our population. A strong base of agriculture growth is must for the overall economic development in a country like India. Agricultural growth depends on the growth of productivity, which in turn requires sustained infusion of finance. The growing tendency among the farmers to replace the traditional farming practices with scientific and modern technology has necessitated the increased use of capital both for improving farm infrastructure and for meeting the operational cost. Consequently, the need for cash in rural economy has increased manifold as one of the strategic inputs for agricultural development. Besides this, most of the Indian farmers being trapped into the vicious circle of indebtedness, the institutional flow of finance through agricultural and rural development programmes would prove significantly in their overall development. Rural finance, therefore, plays an important role not only in production, storage, maintenance and marketing, but contributes immensely to the expansion of agricultural activities. Credit contributes to accelerating the agricultural development provided it is adequate, cheap and development oriented (Belshaw 1931; Galbraith 1952; Myrdal 1968; Schultz 1964). It is almost impossible for a poor farmer to adopt the continuously changing agricultural technology with increasing demand in investment requirements (Singh & Sagar 2004). Small farmers during the sixties and seventies had lagged in the adoption of high yielding variety (HYV) technology due to inadequate flow of institutional credit (Muthiah, 1972; Parthasarathy and Prasad 1978; Schluter and Parikh 1974). High quantum of credit is required not only for short term cash inputs like use of improved seeds, fertilizers, insecticides, etc, but also for medium and long term investment for irrigation and land development activities by the farmers to enhance farm productivity and fulfillment of their goals (Rath 1998).