Debt Waiver for 3.26 lac Marginal Farmers in May 2018 in Punjab

Indian Farmers are hard working for growing food (meals) to quench the hunger but for himself  very poorly manage to get the two meals (Food) for himself and his family. He has to take debt and not manage to get his debt cleared. Result is suicide.

The Punjab Government decided to give relief to 3.26 lac marginal farmers in the month of May 2018 itself by grant of waiver, who have taken loans from the commercial banks. The scheme is expected to cover the targeted 10.25 lakh farmers before November this year.

In the next phase, farmers who had availed crop loan from public sector banks and other commercial banks would be covered under the scheme. The finance department had been holding meetings with state-level bankers’ committee to procure data of such banks to ascertain the eligibility of their farmers.

So far,debt relief of Rs 999.97 lakh has been disbursed to 2.02 lakh marginal farmers of cooperative institutions as part of the scheme notified by the state government on October 17, 2017. Outstanding loan amount would be released to these banks so that the scheme could be wrapped up by October 31.

Chief Minister Captain Amarinder Singh directed officials of the Departments concerned to hold tehsil-level functions to expedite relief disbursement among the beneficiaries identified for waiver of loans from cooperative banks. The Chief Minister said that ministers and party MLAs would hand over loan waiver certificates to the beneficiaries at tehsil-level functions.