Punjab Govt Announces Waiver of Rs 590 Cr of Loans of Labourers, Landless Farmers

The Punjab authorities on Wednesday introduced waiver of Rs 590 crore value of loans underneath the farm debt waiver scheme for labourers and the landless farming neighborhood. The cheques could be issued at a state-level perform on August 20, stated an official spokesperson after a gathering held on Tuesday.

The Punjab authorities will repay loans to the tune of Rs 520 crore of 2,85,325 members of the Primary Agricultural Cooperative Societies (PACS), thus making certain a aid of Rs 20,000 per member, Chief Minister Amarinder Singh stated. This determination will pave the best way for achievement of the important thing promise of the Congress-led regime. He directed the finance and cooperation departments to kick off the method for efficient implementation of the choice on the bottom.

The Congress-led authorities had formulated a Debt Relief Scheme for Farm Labourers and Landless Farming Members of PACS-2019, which might cowl solely consumption loans to the members of the Primary Agricultural Cooperative Societies superior by district central cooperative banks within the state of Punjab by way of Primary Agricultural Cooperative Societies. The CM’s bulletins observe the waiver of the loans of farmers underneath the Chief Minister’s flagship ‘Debt Waiver Scheme.’ So far, loans value Rs 4,624 crore have been waived of as many as 5.64 lakh farmers underneath the scheme, which was introduced as half of the 2017 ballot guarantees by the Punjab Congress.