Punjab CM Announces Loan Waiver for Farmers

In today’s time, Indian farmers are facing groundbreaking difficulties. Due to drought and other problems, farmers are taking heavy loans which are contributing to extra pressure on them which in turn results in suicides. The CM of Punjab, Mr. Amarinder Singh, after looking into this problem has come up with a new scheme regarding crop loan waiver of up to ₹2 lakh for farmers who own up to 5 acres of land and a flat relief of ₹2 lakh for the marginal farmers, irrespective of the loan amount.

loan waiver for farmers in punjab
It’s a fantastic step that has been taken by Mr. Amarinder as it’ll benefit a total of 10.25 lakh farmers, also including 8.75 lakh farmers owning up to 5 acres of land. Furthermore, the CM has stated that his government has also decided to take over a loan from the families of farmers who had committed suicide, in the state of Punjab. The government has also decided to raise the monetary help given to suicide affected families from ₹3 lakh to ₹5 lakh. Some other groundbreaking claims were made where the CM informed the house of the state that his government has decided to repeal the section 67A of Punjab Act, 1961 which basically supports the auctioning of mortgaged land of farmers, as well as, he also gave the commitment to provide free power to struggling farmers!

punjab chief minister announces loan waiver for farmers
We salute the efforts of Mr. Amarinder Singh that will contribute hugely to the development of the farmers as well as will greatly help in reducing the grave issue of farmer suicides. Governments of all the States need to take such steps as farmers are the backbone of this country and we need to protect them!

Source: LiveMint

Image Source: The Financial Express




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