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Showing posts with label Punjab. Show all posts
Showing posts with label Punjab. Show all posts

5/31/2017

Loan Waiver Scheme for Farmers in Punjab to Benefits from 15 June 2017

Farmers Loan Waiver Scheme is an initiative of Punjab government introduced for farmers to benefit them. Farmers Loan Waiver Scheme 2017 will be rolled out from 16 June 2017 for providing a relief to those farmers who had taken loan from banks for agricultural purposes.

A committee has been formulated by Chief Minister of Punjab, Amarinder Singh formed for the implementation of Farmers Loan Waiver Loan Scheme across the state. The committee experts would work towards evaluation of needed amount for the scheme and provide a relief on the pending loans of farmers.

Farmers Loan Waiver Scheme Punjab Highlights
  • The main objective of the scheme is to overcome the loan burden of farmer.
  • The scheme will help the farmer in Punjab to overcome from the burden of loan.
    The farmers having 5 acres of farms will be covered under the scheme. 
  • Total outstanding farm loan amount on farmers in the state is about Rs 72,770 crore and of total Rs. 59620 crore is crop loan.
  • Waiver would be more likely for short-term crop loans instead of long term loans. 
  • A deadline of 60 days has been given to the committee for preparing a solid report about the farmers loan.
The scheme will not only pay off the outstanding loans but would also work out on creating methods for the remission of debt.
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