CHANDIGARH, Punjab—Delivering onto its pre-poll promises, the Congress Punjab government on June 19 announced to waive off crop loans up to Rs 200,000 for small and marginal farmers (owners of land up to 5 acres). Punjab Chief Minister Captain Amarinder Singh made this announcement during budget session of Punjab assembly on June 19.
The move is expected to benefit a total of 1.025 million farmers in Punjab, including 8.75 lakh farmers up to 5 acres. More than 150,000 farmers possessing land more than 5 acres will receive benefit of a flat Rs. 200,000 relief irrespective of their loan amount.
In a press note released from Chief Minister’s office, it has been informed that the government will take overall outstanding institutional crop loans of households where a farmer has committed suicide besides raising compensation for these families from Rs. 300,000 to Rs. 500,000.
Targeting the previous Akali government for ruining the state’s agriculture and farmers, Captain Amarinder Singh said that the Badal Government had accepted a loan of Rs 31,000 crore to cover the shortfall in the cash credit limit for procurement of foodgrains, for which his government has to pay Rs 270 crore every month and Rs 3240 crore annually. “Had this not been done, his government would have utilized the additional Rs 31,000 crore amount also to benefit the farmers,” he added.