Punjab to bring bill on farmers debt waiver

Chandigarh, Jul 15 (UNI) The Punjab government will bring a bill regarding waiver of bad debts of the farmers in the coming assembly session, Chief Minister Amarinder Singh said today.

Capt Singh said that of the total of Rs 24,000 crore rural debt, about Rs 5000 crore was bad debt. The original debt was much less but had swollen to a large amount due to accumulating interest, he added.

About Rs 409 crore of the loans were taken by the villagers from the nationalised banks for which only the Centre could take any decision, Capt Singh told mediapersons at the 'Meet-the Press' organised by the Chandigarh Press Club to mark its Silver Jubilee year.

Of the Rs 390 crore taken from various Cooperative Banks, the state proposed to waive off the interest amount.

Even those who have paid their debts in total, will be reimbursed, by paying about one and a half per cent interest on the interest paid.

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