Punjab Cabinet clears debt alleviation for 2.85 lakh agricultural cooperative individuals

Punjab Cabinet clears debt alleviation for 2.85 lakh agricultural cooperative individuals 1

CHANDIGARH: Some 2. Eighty-five lakh human beings, 70 consistent with a cent of them Dalits, were given an excellent remedy. In contrast, the Punjab Cabinet gave in-principle approval to a debt remedy scheme for farm laborers and landless farming contributors of Primary Cooperative Agriculture Service Societies (PACS) here on Saturday nighttime. The project waives off H520. Fifty-five crore, inclusive of the primary amount of H388.55 crore, Rs seventy-eight crore as a hobby at 7 according to cent until March 31, 2017, besides H54 crores attributable to interest at 7 consistent with cent with effect from April 1, 2017, to March 31, 2019, which had been notable as on March 31, 2019.

During the recent Budget session of Vidhan Sabha, the government had announced a budgetary allocation to enforce this scheme. Chief Minister Amarinder Singh had also assured that because the nation’s monetary condition improves, he’ll carry landless farmers and farm laborers into the ambit of the debt relief scheme. The beneficiaries could be character farm laborers and landless farming participants of PACS who’ve been availing advances from district cooperatives and forums.


The quantity eligible for debt remedy could include the first-rate essential amount as much as a restriction of H25,000 as of March 31, 2017, and natural interest at 7 in step with a cent in step with annum. The debt remedy shall not be to be had to the one’s participants who’re both personnel, authorities pensioners, employees in semi-government institutions, PSU’s of any State or Central Government or an earnings tax payee. If a person has a couple of accounts, the relaxation will accept in opposition to one report best, which has better super quantity situation to the maximum of H25,000 as main. The accounts of the beneficiaries could be Aadhar-seeded to avoid duplication. The flow comes as an extension of the Debt Relief Scheme of October 2017 for small and marginal farmers with loans up to H2 lakh. Under the scheme, until date, the authorities have waived off loans of Rs 5. Forty-seven lakhs small and marginal farmers.

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