CM launches loan waiver of Rs 12cr to 7,445 farm labourers, landless farmers

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Debt relief certificates were given to 25 farm labourers and landless farmers on Sunday as symbolic launch of the loan waiver scheme, under which the

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recovery of loans given by the primary agricultural to the tune of Rs 12.73 crore to 7,445 such beneficiaries from Ropar and Mohali districts would be cancelled.

The State Government had decided to waive off Rs 520 crore loan of 2.85 lakh farm labourers and landless farmers with respect to the principal amount against their cooperative loans as on July 31, 2017, and Simple Interest at the rate of 7% per annum on this amount till March 6, 2019. Punjab government had earlier waived of Rs 4,700 crore worth of loans (up to Rs 2 lakh of crop loan each) for 5.85 lakh small and marginal farmers.