The Impressive TimesMinister of State for Finance Pankaj Chaudhary announced that ground-level credit in rural areas has significantly increased from ₹7.3 lakh crore in 2014 to ₹25.46 lakh crore in 2024. This expansion is aimed at providing more financial benefits to people in rural regions. In response to queries in the Lok Sabha, he detailed that under the Kisan Credit Card scheme, crop loans amounting to ₹4.26 lakh crore were extended to farmers, up from ₹9.82 lakh crore in 2014.
Mr. Chaudhary highlighted various government initiatives aimed at supporting farmers and enhancing agricultural productivity. He mentioned the Pradhan Mantri Jan Dhan Yojana (PMJDY), which has led to the opening of over 52 crore accounts to promote financial inclusion.
Additionally, the Minister discussed government schemes for the youth, such as MUDRA Yojana and Startup India. He noted that the recent Union Budget has introduced an internship scheme for young people and increased the MUDRA loan facility limit from ₹10 lakh to ₹20 lakh.
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