Bank loan

Farm loan exemption on Punjab ministers’ agenda today: The Tribune India

Ruchika M Khanna

Tribune press service

Chandigarh, January 3

Amid growing clamor to announce the cancellation of farmers’ debt, the state government is ready to grant loan relief to 1.5 lakh of farmers.

The decision will be taken at the Council of Ministers meeting, which will be chaired by CM Charanjit Channi, on Tuesday. Sources told The Tribune that the government is working to raise Rs 2,500 crore to distribute to 1.09 lakh of farmers, previously considered as part of the government’s debt cancellation and relief program. ‘State.

Farmers with less than 5 acres were deemed eligible for a waiver of up to Rs 2 lakh, but were refused due to certain issues. Farmers who were previously excluded from the program (those who had received loans from the Punjab State Cooperative Agricultural Development Bank) and whose cases were in dispute, could also be considered eligible for the program at the meeting. Tuesday.

The “rushed” decision to release the waiver to the remaining beneficiaries comes in anticipation of a debt waiver to be announced by the prime minister in Ferozepur on Wednesday. Farmers’ anger over the government’s inability to deliver on its debt cancellation promise also threatens to hurt its electoral prospects. Sukhdev Singh Kokrikalan, general secretary of BKU (Ekta Ugrahan), said that since the government was unable to write off the debt, farmers had no choice but to protest. “The government says it gave money to the cooperative department, but it was not given to banks, which target farmers,” he said.