EXPLORING THE CHALLENGES OF AGRICULTURAL FINANCING SCHEMES IN GONDIA DISTRICT

Abstract

The agricultural sector is one of the main pillars of the Indian economy that critically lacks financial input to continue the process of development and improvement. This paper is informed by the research question, how has the implementation of schemes in financing agriculture been in financial institutions in Gondia District, an agriculturally active area? In this research, both qualitative and quantitative data collected through surveys and interviews from the various stakeholders: financial institution representatives, policymakers, and farmers, are analyzed using mixed methods. This paper also list down some barriers as follows; restrictive geographical access because many consumers reside in rural areas and lacks access to financial services, business slowing due to lengthy administrative processes and procedures, farmers remain ignorant about the potential services, and lack of effective measures needed to minimize risks from natural disasters. This paper also reviews the effects of these challenges on the use of the above-mentioned agricultural programmes and how they stress the need to apply unique solutions. Recommendations are as follows; increasing efficiency of outreach activities, making processes more efficient, applying technology to adapt scheme strategies. It is the hope of the findings to contribute to formulation of better policies and operational strategies for financing sustainable agriculture in Gondia District.