Choose the given statement is true/false:

Capital is a basic need in agriculture.

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Detailed Solution

The above statement is true.
Agriculture has a primary demand for capital. Most small farmers arrange capital by borrowing money from traders or moneylenders. The Indian government provides substantial agricultural loans to Indian farmers at extremely cheap interest rates. Numerous banks and other financial institutions provide loans as the necessary capital for agriculture. Some sellers supported by the government offer farmers high-quality seeds at reasonable prices. The farmers frequently set aside money from past harvests, which they then utilise as seed money for the following crop. Farmers pay a high rate of interest to dealers and moneylenders. Farmers with medium and large farms have their savings. Banks also lend money to them.

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