1995•The Journal of Development StudiesRequires access

The impact of formal finance on the rural economy of India

Hans P. Binswanger, Shahidur R. Khandker

Abstract

India's supply‐led approach to agricultural credit paid off in non‐farm growth, employment and rural wages. The impact of expanded credit on agricultural output has been modest, and the benefits of agricultural income exceed the costs of the programme only if optimistic assumptions are made about repayment rates on farm credit.

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Key concepts: Economics, Agriculture, Rural economy, Finance, Business, Geography, Archaeology