Assessment of Progress of Kisan Credit Card Scheme in Haryana, India

Abstract

Kisan Credit Card scheme is a very important institutional credit source in India. The study was conducted with time series data from the year 1999 to 2019 in order to work out the growth patterns in the number of Kisan Credit Cards (KCCs) issued and the amount sanctioned under KCC. Compound annual growth rate and coefficient of variation were calculated in order to better understand fluctuations in the number of KCCs issued and the amount sanctioned year by year. This research assessed the progress of the Kisan Credit Card scheme in Haryana.  Also, the amount sanctioned under the Kisan Credit Card scheme was found progressive during 1999-2019. The number of cards issued in Haryana attributed to a growth rate of more than 3.05 percent per annum and the amount sanctioned under the KCC scheme accounted for a growth rate of 8.2 percent annually. In Haryana among the various agencies, commercial banks, and RRBs showed a positive growth rate while co-operative banks exhibited a negative growth rate during 1999-2019. The annual growth rates for a number of Kisan Credit Cards issued by commercial banks, regional rural banks, and co-operative banks were 9.6, 12.26, and -10.38 percent, respectively. The growth rates for the amount sanctioned under the KCC scheme were found to be 16, 12.26, and -13.8 percent annum. Progress of KCC was found quite uniform in selected districts of three zones of Haryana during 1999-2019. The compound growth rates for the number of cards issued were found to be 20.73, 18.82, and 18.67 percent in Karnal, Hisar, and Jhajjar districts, respectively. The year-wise, agency-wise, and zone-wise progress for the number of KCCs issued in the state has been quite impressive which is near to average of all of India.