Chandigarh, Jan 20: Punjab and Haryana continue to demonstrate strong engagement with institutional credit, with new data showing high levels of financial support for the region’s agricultural sector.
Figures recently presented in the Rajya Sabha show that Punjab’s 25.23 lakh agricultural loan accounts hold an outstanding debt of Rs 97,471 crore, reflecting a significant average of Rs 3.86 lakh per farmer.
This level of credit access underscores the capital-intensive nature of farming in the region. In neighboring Haryana, the agricultural sector also shows broad financial backing, with 36.63 lakh loan accounts and a total outstanding amount of Rs 1,00,013 crore.
While the total volume is high, Haryana’s per-account average is recorded at Rs 2.73 lakh.
The data suggests a focus on ensuring that credit reaches the farming community to maintain the region’s status as a primary agricultural hub.
Analyst Kamal Aanand from Sangrur noted that the differences in these figures between states indicate a need for continued focus on long-term sustainable farming practices and evolving policy measures to support the local agrarian economy.
Nationally, the agricultural landscape remains well-supported by banking institutions. A total of 17.42 crore accounts across India hold a combined debt of Rs 31.36 lakh crore, averaging Rs 1.80 lakh per account.
While states like Meghalaya and Jharkhand report lower per-account averages of Rs 76,966 and Rs 78,350 respectively, the high figures in the northwest reflect the more intensive farming operations found in Punjab and Haryana.
Industry experts mentioned that these variations across the country show the diverse ways institutional credit is utilized.
Aanand noted that the current distribution patterns offer an opportunity for refining how farm financing is monitored to ensure it continues to benefit those actively engaged in cultivation.
