Agricultural Financing should be encouraged
Jammu and Kashmir can achieve greater heights in the field of agriculture as the region has a distinct topography that is suited for various crops that are not only high yielding but can fetch higher revenues for the UT.
Therefore, there is a need for giving a major push to agricultural financing so that the scheme can be accessible and affordable as such moves remain the most effective means of unlocking the vast potential of the agriculture and allied sectors in Jammu and Kashmir.
The district administrations and banking institutions can take a lead to pursue these schemes with greater ambition and commitment so that eligible farmers, entrepreneurs and producer groups are able to derive maximum benefit from them.
Jammu and Kashmir’s economy still beats to the rhythm of its fields and orchards. Nearly 70% of the population depends directly or indirectly on agriculture and allied activities.
Apples, saffron, walnuts, paddy, and vegetables from Kashmir, and basmati, maize, and pulses from Jammu, are not just crops. They are livelihoods, identity, and the backbone of rural incomes.
Yet the one thing holding this sector back is not land or weather. It is timely, affordable financing. Hence, Agricultural financing in J&K needs a major push, and the schemes already on the table deserve full support.
Farming is capital-intensive. Seeds, fertilizers, pesticides, cold storage, drip irrigation, and transport all need money upfront. Banks have traditionally been hesitant to lend in J&K due to perceived risks, weather shocks, and delayed repayments after events like floods or snowfall.
The result has been that farmers fall into the trap of informal moneylenders charging 24-36% interest. A small crop failure then pushes families into debt for years. Without credit, farmers cannot upgrade to high-yield seeds, install solar pumps, or store produce to sell at better prices. The land has potential, but the cash flow is broken.
Importantly, the need for saturation of KCC coverage, timely renewal of existing accounts and prompt disbursement of repayment incentives to eligible farmers in accordance with the scheme guidelines needs to be strengthened across the region.
The concerned departments and banks need to undertake extensive awareness campaigns regarding the incentives available under the scheme and the conditions required for availing them, enabling farmers to fully leverage the benefits of this credit scheme.
The authorities should also focus on expediting onboarding under the Unified Lending Interface (ULI) in areas where digitization of land records has been completed.
The land digitization records should also be updated in tandem with the ongoing generation of Farmer IDs across the districts so that a wide database is created for widening the ambit of agricultural financing.
Agriculture is J&K’s oldest industry and its safest bet for jobs. If we finance it right, we finance our future. A major push on agricultural credit is not a subsidy. It is an investment in the soil that feeds us all.
If agricultural financing gets a push, the gains are immediate. One, farm productivity rises because inputs reach fields on time. Two, post-harvest losses fall as cold storage and processing get funded. Three, youth stay on farms because agri-business becomes profitable, not just subsistence and finally J&K’s export potential can grow to a alevel where we can meet global standards and earn premium prices.
