The BJP government published an infographic on the 48-months portal that makes five claims about the budgetary allocations and outcomes of the agriculture sector. This article is a fact check of the claims. The BJP government published an infographic on the 48-months portal that makes five claims about the budgetary allocations and outcomes of the agriculture sector. This article is a fact check of the claims. Has farm credit target been increased? The first claim is that ‘farm credit target raised to Rs. 11 lakh crores 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 Rs. 11 lakh crores 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 Rs. 7 lakh crores for 2013-14. The following graph shows the increase in farm credit targets in the Union budget since 2009-10. The data has been collated 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 Rs. 3.3 lakh crores rupees to Rs. 7 lakh crores (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%). The RBI annual report for 2017-18 states that ‘the Government of India has been fixing the target for agricultural credit every year. During 2017-18, the Government set the target of 10,000 billion for agricultural credit. As on March 31, 2018, commercial banks achieved 124.6 per cent of their target whereas cooperative banks and regional rural banks (RRBs) achieved 96.4 per cent and 100.7 per cent, respectively. The Government has set an agricultural credit target of 11,000 billion for 2018-19.’ The report also points out that in 2016-17, against a target of 9000 billion rupees; the achievement has been 10,658 billion rupees. In the year 2017-18, the target was raised to 10,000 billion rupees and the achievement was 11,685 billion rupees. Hence, the target set for the following year of 2018-19 is slightly lower than the achievement of the previous year. Claim: Farm credit target raised to 11 lakh crore rupees for 2018-19. Fact: Farm credit target has been set at Rs. 11 lakh crores in the budget of 2018-19. Hence the claim is TRUE. However, this is in line with the increase that happens every year during successive governments. 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. Has a new corpus of Rs. 10,000 crores been created for infrastructure? The second claim is that a ‘corpus of Rs. 10,000 crores to create infrastructure in fishery, aquaculture and animal husbandry sectors’. The 2018-19 budget speech mentions the setting up of a Fisheries and Aquaculture Infrastructure Development Fund (FAIDF) for fisheries sector and an Animal Husbandry Infrastructure Development Fund (AHIDF) for financing infrastructure requirement of animal husbandry sector. Total Corpus of these two new funds is Rs. 10000 crores. A response in the Lok Sabha in December 2018 states that ‘the Department of Animal Husbandry, Dairying & Fisheries, Ministry of Agriculture & Farmers Welfare, Government of India has recently created a Fisheries and Aquaculture Infrastructure Development Fund (FIDF) with a total fund size of Rs. 7522.48 crores for providing concessional finance to the Eligible Entities(EEs), including State Governments/UTs and State entities for development of identified fisheries infrastructure facilities’. A press note by the department of animal husbandry, dairying and fisheries states that ‘The cabinet committee of Economic Affairs (CCEA) approved the proposal for creation of a special Fisheries and Aquaculture Infrastructure Development Fund (FIDF) in October 2018. The approval entails an estimated fund size of Rs. 7,522 crores comprising Rs. 5,266.40 crores to be raised by the Nodal Loaning Entities (NLEs), Rs. 1,316.6 crores being the beneficiaries contribution and Rs. 939.48 crores budgetary support from the Government of India’. In other words, though the corpus of both these funds together is Rs. 10,000 crores, the budgetary contribution from the government is only about 15% of the total corpus. Further, the budgetary allocation for both these funds in the interim budget of 2019-20 is very meagre. Claim: Corpus of Rs.
History Report
Fact Checking Government claims about various Agriculture related funds
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