Debt waiver may be for marginal farmers alone

Ruchika M Khanna

Tribune News Service

Chandigarh, May 22

The Congress poll promise to waive the loans of more than 30 lakh farmers in Punjab could well turn out to be a debt waiver for only marginal farmers owing to the state’s poor fiscal health. Farmers with large land-holdings (more than five acres) could be paid relief.

 Sources said a scheme in this regard would be finalised at a meeting of the expert group next week. The draft policy would be submitted to the CM by May 30. 

The latest data compiled by the state-level Bankers Committee reveals there are 17,19038 small and marginal farmers (who will be the major beneficiaries) who have availed a loan of Rs 36,600.37 crore. The total agriculture advances in Punjab stand at Rs 85,360. 86 crore with 31.29 lakh farmers having taken these loans from banks. Crop loan (limits are made for availing loan for each crop season) has been taken by 21.51 lakh farmers. It stands at Rs 63,180.13 crore. 

The government has now sought data from the Bankers Committee on the amount of crop loan and term loan availed by small, marginal and big farmers, placing the amount in various categories — less than Rs 50,000; between Rs 50,000 and Rs 1 lakh; Rs 1 lakh to Rs 2 lakh; Rs 2 lakh to Rs 5 lakh and a group committee is headed by Dr T Haque, former chairman, Commission for Agriculture Costs and Prices.