Haryana, Punjab farmers to get 31 bn loan waiver

Sunday, 29 June 2008, 07:00 Hrs
Printer Print Email Email
Chandigarh: Farmers from Haryana and Punjab - the two states that contribute most to the nation's buffer grain stock - will get a loan waiver of nearly 31 billion (3,095 crore) under the agriculture debt waiver scheme announced by the central government in this year's budget.

The waiver for Haryana farmers - 21.08 billion - will be more than double the loan waiver for Punjab farmers, which is 9.87 billion, figures released by both states Friday indicated.

The loan waiver scheme is to be implemented by June 30 by banks to make the farmers eligible for new loans.

Banks in Haryana will write off loans to 664,675 farmers while in Punjab the beneficiary farmers are 332,872 in number.

Punjab Chief Secretary Ramesh Inder Singh Friday held a meeting with bankers and other officials to review the implementation of loan waiver plan.

He said that loan amounting to 6.34 billion of 179,160 small and marginal farmers would be waived off under the scheme. A total of 153,712 other bigger farmers would get relief amounting to over 3.52 billion.

The central government announced a waiver of over 716 billion (71,600 crore) for farmers earlier this year. Haryana will account for three percent share of the total waiver while Punjab will have a share of just one percent.

"Waiver of debt is a gratitude to our farmers from an indebted nation and more so to the farmers of Haryana who continue to contribute record volumes to the nation's foodstock," Haryana Chief Minister Bhupinder Singh Hooda said here.
Source: IANS
SPOTLIGHT
Fossil Group sells smartwatch
Global watch and accessories maker Fossil Group has announced to sell its smartphone technolog..
GST rate cut to spur Bengaluru
The realty market in India's tech hub is set to grow as lower Goods and Services Tax (GST) rate..
SpiceJet plans aggressive
Budget passenger carrier SpiceJet plans to aggressively expand its international networks to fl..
Ola raises Rs 400 cr for electric
Leading ride-hailing cab aggregator Ola on Friday said it raised Rs 400 crore from its early in..