Srinagar, Jul 24 (KNO): Farmers in Jammu and Kashmir have availed loans worth Rs. 7,55,605 under the Kisan Credit Card (KCC) scheme over the past five years.
This financial support aims to enhance the livelihood of farmers, promote agricultural productivity, and facilitate easy access to credit.
The Kisan Credit Card scheme, introduced by the Government of India, provides short-term loans to farmers at low interest rates, enabling them to cover the costs of cultivation, purchase of equipment, and other agricultural activities. The scheme has been pivotal in alleviating the financial burden on farmers and empowering them to invest in modern farming techniques and equipment.
As per the figures accessed by news agency—Kashmir News Observer (KNO), farmers availed loans worth Rs 2,21,151 last year. Prior to it, loans worth Rs 44,231 were availed by farmers in the year 2022-23. In the years, 2021-22, 2020-21 and 2019-20, loans worth Rs 73,246, Rs 49,151 and Rs 3,67,826 were availed by the farmers in Jammu and Kashmir, respectively.
In order to ensure economic security for farmer families, a total of 10.90 lakh Kisan Credit Cards (KCCs) have been distributed so far.
Officials said a substantial number of farmers in the region have benefited from the KCC scheme, utilizing the loans for various purposes, including crop production, purchase of fertilizers, seeds, pesticides, and other essential inputs. The scheme also covers allied activities such as dairy farming, poultry, and fisheries, broadening the scope of financial assistance to encompass diverse agricultural pursuits.
“KCC has been a game changer for farmers. Farmers who were in need of loans to expand their agriculture business availed it and succeeded in setting up their business. This year as well scores of the farmers availed the benefits of KCC,” they said.
Officials from the agriculture department have expressed optimism about the continued positive impact of the KCC scheme. " It has provided them with the much-needed financial support to invest in their farms and improve productivity. We are committed to ensuring that more farmers benefit from this scheme in the coming years," said an official—(KNO)