New Delhi, May 25: A Punjab government committee studying a promised farm loan waiver will submit its report by 15 June, one of its members said.
“The committee members have met twice and discussed possible scenarios of loan waiver and how much it may cost the government. After a meeting next week, we will give our recommendations to the chief minister by 15 June,” he said, asking not to be identified.
According to data available with the panel, Punjab’s total outstanding farm loan is Rs72,770 crore, of which Rs59,620 crore are crop loans and the rest (Rs13,150 crore) are term loans, he said. “The loan waiver will be limited to short-term crop loans and we are unlikely to recommend waiving term loans.”
Another official familiar with the development said that the waiver scheme is likely to be limited to small and marginal farmers (owning less than 5 acres of land) and the government is likely to announce a package after the state assembly session begins next month.
News Source: http://www.livemint.com
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