Punjab Could Soon Join The Farm Loan Waiver Bandwagon
Punjab government to take up farm loan waiver issue in budget session
- Agricultural debt in Punjab: Rs 85,000 crore
- Loans to small and marginal farmers: Rs 72,700 crore
- Outstanding debt of small and marginal farmers: Rs 36,000 crore
The Punjab government could be the next state to dole out a farm loan waiver as the state government takes up the proposal in the upcoming budget session.
Facing mounting pressure to honour a poll promise, the government will look at ways to ease the pain of debt laden farmers, with small and marginal cultivators being the top priority. A senior official from the Punjab government told PTI that there would be ‘some provision’ in the budget with regard to debt waivers of farmers.
Chief Minister Captain Arminder Singh has been under pressure from opposition parties to fulfil his promise of a loan waiver against the backdrop of rising number of suicides in the sate.
A state government appointed panel is in the process of collecting information about outstanding debt of farmers from banks. The panel will also invite suggestions from all stakeholders and will also meet the chief minister to appraise him of the situation.
The state budget session will begin on June 14 with the budget being tabled on June 20.
As it stands, the total agricultural debt in Punjab is pegged at Rs 85,000 crore. Out of which loans to marginal and small farmers is Rs 72,700 crore. The outstanding debt of small and marginal farmers was Rs 36,000 crore including a cooperative loan of Rs 5,000 crore.
The Congress in its poll manifesto had promised to waive farm debt after coming to power, with programmes like 'karza-kurki khatam (eliminate loan and auction), fasal di poori rakam' (complete payment of crops) being widely advertised.
