Punjab recommends Rs 2,085 crore relief for farmers in debt

Chandigarh, Jul 12 (UNI) In order to provide relief to the debt ridden farmers of Punjab, a state level ministerial committee has recommended a relief package amounting to Rs 2,085 crore.

This proposal of the committee after approval from the Chief Minister will be forwarded to the Union Government.

The meeting of the committee held here today was presided over by Rural Development and Panchayat Minister Lal Singh.It was attended by Public Health and Food and Supply Minister Avtar Henry, Revenue Minister Amarjit Singh Samra and Excise Minister Sardul Singh.

The committee recommended that the interest rates being paid by the farmers on loans should be reduced to 1.5 percent. This benefit should be given to only those farmers who were returning their loan installments regularly.

The committee also recommended that the Punjab Scheduled Land Development and Finance Corporation and Punjab Backward Class Land Development and Finance Corporations should also be included in the relief package as they advance loans to farmers.

The committee while pointing out that Cooperative Societies were getting loans at five percent and advancing these at nine percent, has recommended that the overhead charges on these loans should be reduced.

Others who attended the meeting were Chief Secretary K R Lakhanpal, and Mr K K Bhatnagar, Financial Commissioner Revenue.

UNI HS RL PM1628