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Punjab govt announces loan waiver for farmers

The Congress-led government has also decided to provide Rs 2 lakh relief for all other marginal farmers, irrespective of their loan amount.

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Amarinder Singh
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After Uttar Pradesh and Maharashtra, Punjab government has now decided to waive off crop loans up to Rs 2 lakh for small and marginal farmers owning up to 5 acres of land in the ongoing Budget session.

The Congress-led government has also decided to provide Rs 2 lakh relief for all other marginal farmers, irrespective of their loan amount.

While making the announcement in the Assembly during the Budget session, Chief Minister Captain Amarinder Singh said that the move will benefit a total of 10.25 lakh farmers, including 8.75 lakh farmers who own up to 5 acres. The decision comes a day before the state's budget is slated to be tabled in the House.

The initiative will provide double the relief announced by the states of Uttar Pradesh and Maharashtra, he said. The UP government had waived off loans of upto Rs 1 lakh of small and marginal farmers.

The decision is based on the interim report of the Expert Group, headed by noted economist Dr T Haque and tasked with suggesting ways and means to help the state's distressed farming community. The Congress-led government has also raised the ex-gratia for suicide affected families to Rs 5 lakh from the existing Rs 3 lakh.

There are about 18.5 lakh farming families in the state, and around 65 per cent of them are small and marginal farmers, out of which around 70 per cent have access to institutional finance.

Highlighting that his government stood by its commitment to waive off the crop loans of the farmers, Captain Amarinder said that his government had also additionally decided to take over the outstanding crop loan from institutional sources of all the families of farmers who committed suicides in the state.

It was also proposed that a five-member committee of Vidhan Sabha be constituted to visit the families of the suicide victims, ascertain the reasons for suicides and suggest further steps to be taken to check this menace forever.

The government has already abolished kurki, which refers to auction of a farmer's land, following non-payment of the loan.

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