Punjab CM writes to PM urging him to announce debt-relief to farmers

Revealing serious issue over the weakening condition of farmers and numerous events of farmer suicides, Punjab Chief Minister Captain Amarinder Singh has once again prompted PM Narendra Modi to reveal one-time debt relief.Punjab CM has actually composed a letter to PM Modi seeking instant intervention to prevent any socio-economic unrest in rural locations in Punjab.”Despite repeated requests from the state government for a nationwide level debt waiver plan for farmers, the reaction up until now has not been motivating, “stated Amarinder Singh.He said that increase in variety of suicides has actually triggered widespread bitterness amongst the farmers and the problem of debt makes the situation even worse. He likewise requested that agricultural loan waiver ought to be provided a priority The CM mentioned that the state federal government, on its part, has chosen to supply an institutional loan waiver of Rs 2 lakh to all marginal and small farmers who have actually taken loans upto Rs 2 lakh and more.The Punjab CM likewise worried that the financial obligation waiver will amount to Rs 9500 crore to 8.75 lakh farmers who have about around 10 lakh crop loan accounts.So far, an amount of Rs 999.67 crore has been paid out as relief to about 2.02 lakh farmers, he added.The primary minister explained the adverse climatic conditions of the last 3-4 years as a reason for added monetary stress on farmers.Due to drought throughout kharif season in 2014, the farmers had to sustain an extra expense to raise their paddy crop. The unforeseen rains during rabi season of 2014-15 seriously impacted the efficiency of wheat and the farmers suffered a yield loss of 10-15 per cent, he recalled.Amarinder Singh said that the boost in Minimum Assistance Cost( MSP)during this duration was not at par with increase in cost of agricultural inputs. The debt concern of the farmers had gone up manifold and the financial distress was manifesting in terms of their suicides, he added.Though the Federal government

of India had started a well-intentioned program to double the circulation of institutional credit to agriculture in 2003-04, in the process of meeting the targets, the bankers made a liberal lending, in some cases even disregarding the economic viability and banking principles, the Chief Minister pointed out.This, he stated, resulted in increase in impressive advance of the banks to the Punjab farmers.As of March 31, 2017, this figure was around Rs 72,771 crore. It is more than the GDP of the state from agricultural sector.HIGHLIGHTS Punjab CM has actually composed to PM Modi requiring debt-relief to farmers He has actually mentioned challenges of the farmers throughout nation He has described their predicament due to poor weather condition


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