Jammu, Feb 13 (JKNS): The Jammu & Kashmir Government on Friday informed the Assembly that there is no proposal under consideration for waiver of Kisan Credit Card (KCC) loans.
Responding to a query raised by MLA Dr. Devinder Kumar Manyal regarding the possibility of waiving KCC loans in view of losses suffered by the agriculture and horticulture sectors due to recent floods and the National Highway blockade as per news agency JKNS, the Agriculture Production Department clarified that no such move is being contemplated.
The government stated that the Kisan Credit Card (KCC) scheme is a flagship initiative of the Government of India designed to provide farmers with timely and affordable institutional credit for agriculture and allied activities. It added that the scheme is implemented through banks and does not fall under any financial programme of the Union Territory Government.
Officials further explained that KCC loans are extended at concessional interest rates, with interest subvention benefits available for farmers who repay on time, as per Government of India guidelines. The facility functions as a revolving credit limit to help farmers meet cultivation and working capital needs efficiently.
The House was also informed that any decision regarding waiver of KCC loans lies solely within the jurisdiction of the Government of India.
The government maintained that the scheme continues to play a crucial role in ensuring smooth credit flow to the farming community and strengthening the overall agricultural economy. — (JKNS)
