Cooperative Debt weaver of 3,500 Cr by Captain Government . The announcement to relieve the debt-ridden farmers is going to come true. The Punjab Government believes there is a loan of Rs 9,500 crore on the farmers.For the first installment, Rs. 1500 crores have been marked. The share of cooperative banks in farm credit is estimated to be around Rs.3500 crores.
It is expected to be sealed this week. However, according to the State Level Bankers Committee, the cooperative credit for more than 5 lakh farmers is upwards of Rs. 10,000 crores farmer per farming up to 2 lacs. Those who have land less than 2.5 acre, margin and 2.5 to 5 acres of land holders consider the land as a small farmer. As the Congress and Aam Aadmi Party promised debt waiver during elections, farmers stopped paying. Cooperative Debt weaver of 3,500 Cr by Captain Government.
The situation is that 55 per cent of cooperative banks are lending to the farmers. Rights Committee Additional Chief Secretary and Financial Commissioner (Development) and Principal Secretary Finance, along with NABARD and other Banks’ Officers will prepare a report.In addition to evaluating institutional and non-institutional credit, will also be encouraged to get rid of debt called ‘bad loan’ in the banking language. Depending on the price of crop loans from Cooperative banks are available.
According to Chief Minister Capt. Amarinder Singh the committee has submitted the report. Only after studying the report, the committee will decide how much the total cooperative loan should be kept in the form of a first installment.Captain Government had constituted a committee in April, in which Director of International Food Policy Research Institute (South Asia) Dr. Pramod Joshi and PAU’s VC Dr. BS Dhillon were also there. Dr. Hooda, who has been the chairman of Agriculture Commission and Price Commission of the Ministry of Agriculture, has been Chairman of the Commission.
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