New Delhi: The country's agricultural sector has been in crisis for a long time. Its condition worsened due to government indifference and natural disasters. In the past, many big peasant movements took place in the country. Which increased pressure on the government to uplift the agriculture sector.
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RBI has made an important suggestion to the government in this regard. The Reserve Bank said that for the agriculture sector, an institution like GST Council should be formed and suggestions should be made to transfer the subsidy directly into the account and avoid debt waiver.
Apart from this, the RBI panel has said that the states should update the process of digitization and records of land in due time. The RBI says that for this, the Narendra Modi government at the center should emphasize on the state governments. The Reserve Bank also says that state governments should give banks access to digitized land records.
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In such a situation, banks should not insist on submitting land documents from the agricultural borrowers and they will easily get agricultural loans. The central bank says that banks should increase credit for agricultural activities. Explain that despite all kinds of agricultural concessions, farmers' suicide in the country has not stopped.
