JS–03 Agriculture & rural credit distribution target set at Taka 20.400 cr for 2017-18 fiscal

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MUHITH-CREDIT

Agriculture & rural credit distribution target set at Taka 20.400 cr for 2017-18 fiscal

SANGSAD BHABAN, July 03, 2018 (BSS) – Finance Minister Abul Maal Abdul Muhith today said the government has set a target to distribute Taka 20,400 crore as agriculture and rural credit among the farmers during 2017-18 fiscal.

The finance minster said this while responding to a query made by treasury bench lawmaker Md Mamunur Rashid Kiron at the House here.
In 2016-17, the accumulated credit distribution in this sector was Taka 20,998.70 crore while it was only Taka 9,284.46 crore in 2008-09 fiscal, said the minister.

As per the annual agriculture and rural credit policy and programme formulated by the Bangladesh Bank (BB), the commercial and other scheduled banks are being distributed hundred per cent targeted credit distribution in the last five years, the finance minister said.

The government has fixed maximum 9 per cent interest rate against the agriculture and rural credit which was curtailed from earlier 10 per cent and the interest rate is comparatively less than any other sector in the country, he noted.

Bangladesh Bank has taken various steps to increase the flow of credit distribution for the agriculture and rural region.

BSS/OG/QC/1756 hrs