Farmers to get bank credit upto Rs 1 lakh

Underscoring the significance of agriculture in socio-economic emancification of the society, the Minister for Finance and Ladakh Affairs, Abdul Rahim Rather today said that agriculture in the state has been made almost tax free sector. 

Speaking at a function organized by the Jammu and Kashmir State Advisory Board for Development of Kissans at Vikas Bhawan, Jammu to extend gratitude to Mr. Rather for presenting a farmer-friendly budget for the 2nd consecutive year, the Minister said that soups worth Rs. 20 crore in the form of VAT and Service Tax exemption on various agriculture inputs and implements have been extended to the farm sector to make agriculture a viable, lucrative and profitable commercial activity.  Jan 2012 News Jammu

  

Vice Chairman, JK State Advisory Board for Development of Kissan, Th. Rashpal Singh, Legislator, Mohammad Sharief Niaz, Economic Advisor to the Government, J. A. Khan, Principal Secretary, Finance, M. I. Khandy, DG Accounts and Treasuries, Wali Mohammad Bhat, Commercial Sales Taxes, Gazanfar Hussain, Excise Commissioner, Director Finance, Resham Kashap, Progressive farmers, D. P. Khajuria, Dev Raj Choudhary, Tejander Singh Wazir were present on the occasion. 

Mr. Rather said that the government has taken a conscious decision to make agriculture sector tax free in a bid to increase its contribution in the overall GSDP, which at present is comparatively not upto the mark. He said after exemption of toll tax on agriculture inputs and implements, now VAT has also been exempted in current year's budget. 

"Banks have been directed to improve credit deposit ratio viz agriculture and allied sectors", Mr. Rather said adding that small and marginal farmers having Kissan Credit Cards (KCC) can now avail loan facility upto Rs. One lakh without any mortgagee. He said there was urgent need to ensure huge investments in agriculture, which is core sector of rural economy, adding that new marketing channels in the shape of modern mandies in the potential areas of the State as well as outside the State are being established so that farmers get better remuneration of their produce without exploitation of middlemen. 

Mr. Rather said ensuring availability of quality fertilizers and seeds in time to the farmers is top priority, adding that an ambitious Seed Replacement Programme has been launched to meet the 25% national bench mark as against about 12% in the state, which, he said, would ensure increase in the agriculture production and productivity Honeymoon Destinations. 

Speaking on the occasion, the progressive farmers demanded incentives and subsidies for popularizing green house technology including shade net houses, market support for Basmati Rice, desilitation of kanals mechanically, availability of imported semen for dairy development, establishment of Span Development Laboratory Mushroom cultivation.