Photo Courtesy: India Today Group
Guwahati: Assam Finance Minister Jayanta Mallabaruah wants custom agricultural financing for the Northeast. He spoke in New Delhi on Saturday before Union Finance Minister Nirmala Sitharaman. Baruah rejected a one-size-fits-all approach to national farm policy. He argued that regional geography and specific local production patterns dictate different credit needs. Agriculture employs 40 to 46 percent of the nation and accounts for 18 percent of the GDP.
Baruah highlighted systemic failures. Many tenant farmers, small tea growers, and those working on government or forest-protected land cannot secure institutional loans due to land-title hurdles. Assam started issuing farmer IDs to fix this. These IDs grant better access to formal credit for underserved growers. The minister also pushed for decentralised processing plants located near farms. Perishable crops often spoil within two to five days if they sit in transit.
"Uniform financial and agricultural frameworks may not always address the specific requirements of every state. Regional production patterns and local realities must be considered while designing support mechanisms," Baruah said. He noted that processing facilities reduce post-harvest waste and keep profits in rural hands. The minister specifically pointed to the agarwood sector as a major economic driver. He wants streamlined regulations, better testing, and export channels for this high-value crop.
"Assam’s agarwood sector has immense economic potential. Smooth export channels, streamlined regulatory clearances, quality testing facilities and local processing infrastructure can help our farmers realise greater value from this high-value crop," he added. Finally, the minister called for international air-cargo links to move ginger and turmeric from Assam's hills directly to foreign buyers.
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