Impact of Growth and Sustainability of NABARD towards Rural India

Abstract

Finance is the lifeblood of any organization. The agriculture sector also relies heavily on the usage of credit. Timely and adequate credit is an essential step in increasing production. To cater to the credit requirements, many agencies have come up. National Bank for Agriculture and Rural Development (NABARD) is India's top or apex agricultural and rural development financial body. It is the country's major financial institution for rural development, with the goal of becoming the nation's development bank to promote rural prosperity. Indian economy is agricultural economy and real India lies in villages. Without the development of the rural economy, the objectives of economic planning cannot be achieved. Hence, banks and other financial institutions are considered to be a vital role for the development of the rural economy in India. NABARD are playing a pivotal role in the economic development of the rural India. NABARD is a lifesaving institution for many rural families. This paper aims to understand the government sponsored schemes taken by NABARD. NABARD would work to achieve its goals by encouraging sustainable farming through credit, spreading awareness of precision farming, organic farming, and encouraging market orientation in the production process. This paper tries to highlight the contribution of NABARD in Agriculture and Rural development in India.