Farm loans at 4% credit target raised to Rs 4,75,000cr

According to the General Budget 2011- 2012, credit flows to farmers will be raised to Rs. 7680 crore. An additional Rs. 300 crore will be added to provide to promote pulses cultivation duirng the Annual Budget 2011 - 2012 by Finance Minister Pranab Mukherjee at parliament in New Delhi.

Finance Minister said credit flows to farmers will be raised from Rs 3.75 lakh crore to Rs 4.75 lakh crores and the allocation under Rashtriya Krishi Vikas Yojana will be raised from Rs 6755 crore in the current year to Rs 7860 crore. ( Farm loans at 4%; credit target raised to Rs 4,75,000cr )

An additional Rs 300 cr will be provided to promote pulses cultivation in rain-fed areas and another Rs 300 cr to promote farm product cultivation.

After the Budget session, Prime Minister Manmohan Singh said Finance Minister Pranab Mukherjee has "done a good job" by presenting a growth-oriented and inclusive budget.

"The finance minister deserves congratulations for maintaining a high growth rate despite the adverse international economic climate," Manmohan Singh said in an interview to the national broadcaster Doordarshan.

He did not agree to the observation that there was not much for the corporate sector in the budget.

Asked why there was no amnesty scheme to unearth black money, the prime minister said such schemes had not succeeded in the past.

The issue has to be dealt with in a "permanent and holistic manner", Manmohan Singh added.