Punjab chief minister Capt Amarinder Singh on Monday announced a debt waiver for sections of the farming sector. This included waiver of crop loans for all small and marginal farmers who own up to 5 acres, and a flat relief of Rs 2 lakh for all other marginal farmers, irrespective of the loan amount.
Making the announcements during his speech in the Vidhan Sabha, the CM said the move would benefit a total of 10.25 lakh farmers, including 8.75 lakh farmers up to 5 acres. The state has 18 lakh farmers. The initiative would provide double the relief announced by the states of Uttar Pradesh and Maharashtra, he said.
Making it clear that his government stood by its commitment to waive the crop loans of farmers, Amarinder said his government had also additionally decided to take over outstanding crop loan “from institutional sources” of all families of farmers who committed suicide in the state. It has also decided to raise the ex gratia for suicide-affected families to Rs 5 lakh from the existing Rs 3 lakh.
The decisions are based on the interim report of an expert group headed by economist T Haque that was tasked with suggesting ways and means to help the state’s distressed farming community, said a press release.
In a major step towards farm loan waiver, will give complete waiver for small, marginal farmers (upto 5 acres). This is just the beginning!
— Capt.Amarinder Singh (@capt_amarinder) June 19, 2017
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