The Punjab government on Wednesday gave its nod to notify the crop loan waiver scheme announced by Chief Minister Capt. Amarinder Singh in the State Assembly earlier in June this year.
The Cabinet in its meeting held here decided that besides taking over the entire eligible loan amount of the farmers covered by the debt waiver scheme, the government would also take over the outstanding interest from April 1, 2017, till the date of notification.
“The entire amount would be defrayed to the banks in a phased manner, except for the cooperative credit institutions,” said an official spokesperson, adding that the proposed notification will pave the way for the State government to take up the issue with respective banks as a one-time settlement.
The spokesperson said that the scheme, based on the recommendations of an expert group headed by eminent economist Dr. T. Haque, will directly benefit nearly 10.25 lakh farmers across the State.
“The notification envisages that in case of marginal farmer (less than 2.5 acres) the entire eligible amount of those farmers who have total outstanding crop loan liability up to ₹2 lakh shall be provided as debt relief and in case of eligible amount of more than ₹2 lakh, only₹2 lakh shall be provided as debt relief. In case of small farmers (from 2.5 acres to less than 5 acres), the entire eligible amount of those farmers who have total outstanding crop loan liability up to ₹2 lakh, shall be provided as debt relief,” said the spokesperson.
In line with the Supreme Court judgement of July 11, 2017, the Punjab Cabinet approved an amendment to the Punjab Excise Act to allow licensed liquor vends in the limits of municipal areas to sell liquor even if they are located within a distance of 500 metres from the national and state highways.
The Cabinet also cleared a proposal for amendment to sections 72, 78 and 81 of the Punjab Excise Act, 1914, to check smuggling of liquor in the State.