Question

How is credit significant for the progress of agriculture?

पर्याय

• In agriculture there is a long gap between crop sowing and realisation of income, farmers are in strong need for credit.

• Farmers need money to meet initial investment on seeds, fertilisers, implements and other family expenses especially when they are seasonally unemployed.

• Both In agriculture there is a long gap between crop sowing and realisation of income, farmers are in strong need of credit and Farmers need money to meet initial investment on seeds, fertilisers, implements, and other family expenses especially when they are seasonally unemployed.  

• None of these

Answer 1

Both In agriculture there is a long gap between crop sowing and realisation of income, farmers are in strong need of credit and Farmers need money to meet initial investment on seeds, fertilisers, implements, and other family expenses especially when they are seasonally unemployed.  

Explanation:

There is a large gap between crop sowing and income realisation in agriculture, and farmers are in desperate need of loans. Farmers, especially those who are seasonally unemployed, require funds to cover initial investments in seeds, fertilisers, equipment, and other household expenses. As a result, credit is one of the variables that aid rural development. Farmers will borrow from informational sources if institutional sources are unavailable, raising the cost of borrowing and thus the cost of output. As a result, the rural economy's growth is primarily dependent on capital infusions from time to time in order to achieve improved productivity in the agricultural and non-agricultural sectors.