New Delhi, July 21: Chief Minister Amarinder Singh on Thursday met Union Finance Minister Arun Jaitley, seeking central assistance to the state, including one-time settlement of Rs 6,000 crore bank loans of farmers and settlement of cash credit limit (CCL)-related debt.In the meeting that lasted for about 40 minutes, Amarinder sought conversion of the Rs 6,000-crore loan into term loan.
If the Centre obliges, more than four lakh farmers will benefit.A Punjab government functionary said Jaitley directed the ministry’s officials to give a positive consideration to the issues raised by the CM.Amarinder said of the total debt of small and marginal farmers waived by the state, Rs 3,600 crore was cooperatives’ loan, with the remaining Rs 6,000 crore pertaining to commercial banks (both national and private).He alleged that these banks lent “unethical loans” to the distressed farmers, driving them into a vicious cycle of debt.Besides, he urged for settlement of Rs 31,000-crore CCL-related debt. He pointed out that Rs 18,500 crore interest on Rs 12,500-crore CCL legacy gap was exorbitant as it would mean that the state would end up paying Rs 270 crore every month for the next 20 years. This would incapacitate the state with regard its welfare schemes.Besides, he urged for the reconsideration of state’s proposal to the Centre for pre-payment of the high interest bearing NSSF loan of Rs 22,100 crore and market loan of Rs 33,938 crore to swap them with low-interest bearing loans. This would save interest burden of over Rs 3,363 crore.The CM also sought waiver of GST on langar purchases and parshad given at places of worships of all religions.Amarinder also met Road Tansport Minster Nitin Gadkari. Haryana CM ML Khattar and Jammu and Kashmir Deputy CM Nirmal Singh were also present. The proposed Delhi-Amritsar-Katra expressway and pending Punjab roads were discussed.
News Source: http://www.tribuneindia.com
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