CHANDIGARH: Some 2. Eighty-five lakh humans, 70 according to cent of them Dalits, were given a chief comfort when the Punjab Cabinet gave in-precept approval to a debt alleviation scheme for farm laborers and landless farming participants Primary Cooperative Agriculture Service Societies (PACS) right here on Saturday evening.
The scheme waives off H520.55 crore, consisting of the main amount of H388.55 crore, Rs seventy-eight crore as a hobby at 7 consistent with cent until March 31, 2017, except H54 crores on account of interest at 7 according to cent with impact from April 1, 2017, to March 31, 2019, which had been wonderful as on March 31, 2019.
At some point in the latest Budget session of Vidhan Sabha, the authorities had announced a budgetary allocation to implement this scheme. Chief Minister Amarinder Singh had additionally assured that because the state’s economic condition improves, he will bring landless farmers and farm laborers into the ambit of the debt remedy scheme.
The beneficiaries might be person farm laborers and landless farming participants of PACS who have been availing of advances from district cooperatives and forums. The amount eligible for debt alleviation might include the extraordinary foremost quantity as much as a restrict of H25,000 as on March 31, 2017, and easy hobby at 7 according to cent according to annum.
The debt alleviation shall not be available to individuals who are either personnel, authorities pensioners, employees in semi-authorities institutions, PSU’s of any State or Central Government, or a profits tax payee. If a person has multiple accounts, the relaxation might take delivery against one account best, which has higher outstanding amount difficulty to the maximum of H25,000 as most important. The money owed of the beneficiaries would be Aadhar-seeded to keep away from duplication.
The circulate is an extension of the Debt Relief Scheme of October 2017 for small and marginal farmers with loans as much as H2 lakh. Under the scheme, to date, the authorities have waived off loans of Rs five. Forty-seven lakhs small and marginal farmers.