Loan waiver: Process begins to waive off farmer’s loan
Chandigarh(Narinder Jagga) – After all, hopes of farmers in Punjab are near to fulfil, who are waiting for debt waiver. The Punjab Government has decided to release the fund to Cooperative banks and societies. In the first phase of debt waiver, 6.40 lacs small and marginal farmers will accommodated to free from debts of a flat Rs. 2 lacs each. According to CMO (Chief Minister Office), from the beginning of November month, funds would be released and in the next phase, the process will be started to waive off the loan of private and National banks.All process, as promised by the Government, likely to complete in the mid of November. To complete this process, the Government needs Rs. 9500 crore. Sources told that fund has been arranged. The Punjab Government had announced to waive off loan of more than 10.25 lacs farmers. To waive off the loan, the government had to face complicated situation. In last seven months of government, seven major efforts have been made, but it could not succeed. According to sources, out of 10 lacs farmers, there are 6.40 lacs farmers, who have borrowed loan from cooperative banks and societies in the state. The list of these 6.40 lacs farmers have been handed over the state government by the cooperatives institutions.After the issuing of notification in this regards, the process has been started to release the money of debt waiver, which is likely to be completed in the first week of November month.Immediatly after it, the certificates of ‘Debt-free ‘ will be issued, later. After the first phase, further process to waive off the loan of rest 4 lacs farmers will be initiated, who have borrowed the loan from private and national banks. Sources told that it is the target of the government to complete the process of debt waiver of 10.25 lacs farmers till the end of mid-November, by giving funds or taking responsibility of debt on its own.
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