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Punjab govt announces waiver of Rs 590 crore loans of 2.85 lakh labourers, farmers ahead of polls

The Punjab government has announced a waiver of Rs 590 crore loans under the farm debt waiver scheme for labourers and the landless farming community.

India TV News Desk India TV News Desk
New Delhi Updated on: July 14, 2021 15:02 IST
punjab loan waiver
Image Source : PTI

Punjab govt announces waiver of Rs 590 crore loans of 2.85 lakh labourers, farmers ahead of polls

The Punjab government has announced a waiver of Rs 590 crore loans under the farm debt waiver scheme for labourers and the landless farming community just months ahead of the Assembly polls in the state. The Chief Minister's Office (CMO) said that the decision will benefit 2.85 lakh farm labourers and  landless farmers.

"Punjab Chief Minister Captain Amarinder Singh has announced a waiver of Rs 590 crore worth of loans under the farm debt waiver scheme for labourers & the landless farming community," the CMO said.

It said that 2,85,325 members of the Primary Agricultural Cooperative Societies (PACS) will directly be benefited from the decision. The cheques would be issued at a state-level function on August 20, the CMO added.

The Chief Minister has directed the Finance and Cooperation departments to kick off the process for effective implementation of the decision on the ground.

The government had earlier announced the waiver of the loans of farmers under the Chief Minister’s flagship ‘Debt Waiver Scheme.’ So far, loans worth Rs 4,624 crore have been waived of 5.64 lakh farmers under the scheme.

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