Punjab joins UP, Maharashtra: Crop loan waiver for over a million farmers

Punjab has arrived in Maharashtra and Uttar Pradesh with the announcement of standard work procedures for farmers after Prime Minister Amarinder Singh said on Monday a total waiver of the total amount of crop loan for small and marginal farmers in the state.

On the basis of the interim report of a panel of experts under the economist T Haque, the exception of the loan will be around Rs 2 lakh for small and marginal farmers (with land up to five acres), as well as a relay floor Rs 2 Lakh for the rest of the marginal farmers regardless of the amount of their loan. The decision paves the way for total exemption from the eventual agricultural debt to implement another great pledge promulgation of the ruling party.

The Minister said the measure could benefit 10.25 lakh farmers from 18.5 lakh farmer families in the state, including 8.75 lakh farmers who have landed up to five acres.
“The initiative would provide twice the relief announced by the states of Uttar Pradesh and Maharashtra,” Amarinder said.

He said his government has pledged to eliminate loans to farmers. Amarinder said his government has also decided to take over the pending blending of cultures from institutional sources of all farmer families who committed suicide in the state.

He also decided to raise the former gratia to farmers’ families commit suicide at Rs 5 lakh of existing Rs 3 lakh.

Regarding the reduction of farmers’ debt for loans on non-institutional resources, the government decided to revise the payment of debt Punjab Creation Act to provide the desired relief farmers through a merger and mutually acceptable solution to the Debt, then by law binding on both parties, the lender, and the borrower.

“The government has already set up a cabinet subcommittee to review the law,” said Amarinder.

The Minister proposed that the President could appoint a five-member Vidhan Sabha committee to visit the families of the suicide victims, identify the reasons for the suicide, and suggest other measures control the threat.

He also told the Assembly that his government had decided to repeal section 67A of the 1961 Law on Cooperative Societies in Punjab, which provides for the auction (KURKI) of arable land.

In announcing the continuation of the free power advantage to farmers, Singh has appealed to all large and wealthy farmers in the state to voluntarily surrender the grant of power.

Amarinder has announced his decision to immediately abandon the subsidy on his own farms to give a personal example and asked his colleagues to do the same.

Lambier the former Akali government to “ruin agriculture and state farmers,” Amarinder announced, the previous regime had accepted a loan of Rs 31 billion rupees to cover the cash deficit limit for the purchase of food grain, So the government had to pay Rs 270 crore every month and Rs 3,240 crore a year.

If this had not been done, my government would have used the additional Rs 31 billion to benefit farmers, he said.

Citing various studies, the chief minister of Punjab said that there were about 18.5 lakh farmer families in the state, and about 65% of them were small and marginal farmers, about 70% have access to institutional funding.

In announcing more favorable measures for farmers, he said that an agricultural state policy focused on raising farmers’ incomes on a sustainable basis would be formulated shortly.

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