The Kisan Credit Card (KCC) scheme, which provides farmers with timely access to credit for agricultural needs, was introduced in the year ___.
- government spending (or autonomous expenditure)
- banks
- inflation
- 1998
Answer: 1998
The KCC scheme was launched in 1998 based on the recommendations of the R.V. Gupta Committee. It revolutionized rural credit by providing flexible, low-cost working capital loans to farmers, reducing their dependence on exploitative informal moneylenders and ensuring timely availability of seeds, fertilizers, and pesticides.