Business Standard

Refresh the approach to growth, equity

Agricultural credit continues to be subsidised through an interest subvention scheme instead of converting these subsidies into cash transfers to farmers


Nachiket Mor
The Reserve Bank of India’s (RBI’s) Committee on Comprehensive Access to Financial Services (2013) had set modest targets. Ten years on, considerable progress has been made on the payments front, but on other targets, there has been limited progress. These include access to credit (minimum 50 per cent credit-to-district-GDP); savings and investment products with reasonable returns (65 per cent); and insurance and risk management instruments (80 per cent).
At 50 per cent, the overall credit-to-GDP ratio remains unchanged from 2013; in China and Thailand, it has reached 180 per cent and 160 per cent, respectively. Not only is this
Disclaimer: These are personal views of the writer. They do not necessarily reflect the opinion of or the Business Standard newspaper

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Jan 29 2023 | 5:19 PM IST

Explore News

To read the full story, subscribe to BS Premium now, at just Rs 249/ month.

Key stories on are available only to BS Premium subscribers.

Register to