Assam Finance Minister Jayanta Mallabaruah has called for a region-specific approach to agricultural financing, stronger institutional credit, and end-to-end value chains to raise farm incomes.
Addressing a session on financing agriculture in New Delhi,
Assam Finance Minister Jayanta Mallabaruah stated that uniform financial frameworks may not address the diverse production patterns of different states. He noted that around 40 to 46 percent of India's workforce is engaged in agriculture and allied activities, while the sector contributes around 18 percent to GDP. The minister emphasized that regional production patterns and local realities must be considered while designing support mechanisms.
The minister highlighted regional disparities in institutional agricultural credit and called for a more inclusive approach for the North East.
He drew attention to the difficulties faced by tenant farmers, forest rights act beneficiaries, and small tea growers in accessing institutional credit due to land-title constraints. He noted that the distribution of Farmer IDs has commenced in Assam to facilitate targeted support for these cultivators.
Mallabaruah stressed the need for decentralized processing and value addition infrastructure close to production centres to reduce post-harvest losses.
A key focus of the intervention was Assam's agarwood sector, which requires streamlined regulatory clearances, quality testing facilities, and export channels. He also highlighted the export potential of premium grade ginger, turmeric, Kaji Nemu, Bhoot Jolokia, and specialty indigenous rice varieties from the region.
