Punjab CM writes to PM urging him to announce debt-relief to farmers
Expressing severe concern over the deteriorating situation of farmers and numerous incidents of farmer suicides, Punjab Chief Minister Captain Amarinder Singh has as soon as once more urged PM Narendra Modi to announce one-time debt aid.
Punjab CM has written a letter to PM Modi in search of fast intervention to keep away from any socio-economic unrest in rural areas in Punjab.
“Regardless of repeated requests from the state authorities for a nationwide stage debt waiver scheme for farmers, the response thus far has not been encouraging,” mentioned Amarinder Singh.
He mentioned that improve in variety of suicides has precipitated widespread resentment among the many farmers and the burden of debt makes the state of affairs worse. He additionally requested that agricultural mortgage waiver needs to be given a precedence
The CM identified that the state authorities, on its half, has determined to offer an institutional mortgage waiver of Rs 2 lakh to all marginal and small farmers who’ve taken loans upto Rs 2 lakh and extra.
The Punjab CM additionally careworn that the debt waiver will quantity to Rs 9500 crore to eight.75 lakh farmers who’ve about round 10 lakh crop mortgage accounts.
Thus far, an quantity of Rs 999.67 crore has been disbursed as aid to about 2.02 lakh farmers, he added.
The chief minister described the antagonistic weather conditions of the final Three-Four years as a motive for added monetary stress on farmers.
Because of drought throughout kharif season in 2014, the farmers needed to incur an extra expenditure to lift their paddy crop. The premature rains throughout rabi season of 2014-15 severely impacted the productiveness of wheat and the farmers suffered a yield lack of 10-15 per cent, he recalled.
Amarinder Singh mentioned that the rise in Minimal Help Worth (MSP) throughout this era was not at par with improve in value of agricultural inputs. Consequently, the debt burden of the farmers had gone up manifold and the financial misery was manifesting by way of their suicides, he added.
Although the Authorities of India had began a well-intentioned programme to double the circulation of institutional credit score to agriculture in 2003-04, within the technique of assembly the targets, the bankers made a liberal lending, typically even ignoring the financial viability and banking ethics, the Chief Minister identified.
This, he mentioned, resulted in improve in excellent advance of the banks in direction of the Punjab farmers.
As of March 31, 2017, this determine was round Rs 72,771 crore. It’s greater than the GDP of the state from agricultural sector.
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