Farmers to be debt-free once scheme notified: CM

Tribune News Service

Chandigarh, June 22

Chief Minister Capt Amarinder Singh said in the Vidhan Sabha today that farmers would become debt-free once the loan waiver scheme was notified, even as about Rs 9,500 crore — subject to the final reconciliation of accounts – would be required to fully implement the scheme, which would take 4-5 years to settle with the banks.

Clarifying on the issues raised by the Opposition in the Assembly, he said Rs 1,500 crore proposed in the Budget was the initial sum provided to leverage more money in instalments. The notification for the scheme is expected to take another 6-8 weeks.

Capt Amarinder said his government had decided to waive entire crop loans of small and marginal farmers (up to 5 acres) having loans up to Rs 2 lakh. He added that this would provide relief to 8.75 lakh farmers (as per the data of the State Level Bankers’ Committee).

He reiterated that his government had decided to provide a relief of Rs 2 lakh to the remaining marginal farmers (up to 2.5 acres) irrespective of the loan amount.

In all, about 10.25 lakh farmers will be benefitted by the debt waiver as part of the initiative, which proposes double the relief compared to Uttar Pradesh and Maharashtra, he pointed out.