Debt Waiver Scheme for Farm Labourers, Landless Farmers

To provide assistance to the farm labourers and landless farmers in the state through waiving off the debts.

Marking the occasion of 77th birth anniversary of former Prime Minister Rajiv Gandhi the Punjab government has come up with a new Debt waiver scheme for farm labourers and landless farmers in the state. This scheme launch was announced by Chief Minister Captain Amarinder Singh on August 20, 2021. Under this scheme the state government will waive off the loans amounting to Rs. 520 crores in total. This amount will be with respect to the principal amounts of cooperative loans provided to the farm laborers and landless farmers as on July 31, 2017 along with simple interest on those loans at the rate of 7% p.a. as on March 6, 2021. Total 2.85 crore farm labourers and landless farmers benefited under the scheme.

Scheme Overview:

SchemeDebt waiver scheme for farm labourers and landless farmers
Scheme underPunjab Government
Launched byChief Minister Captain Amarinder Singh
Launch dateAugust 20, 2021
BeneficiariesFarm labourers and landless farmers
BenefitDebt relief through waiving off the loans upto Rs. 520 crores
Major ObjectiveTo provide assistance to the farm labourers and landless farmers in the state through waiving off the debts.

Scheme Objectives and Benefits:

  • The main objective of the scheme is to assist the farm labourers and landless farmers in the state through waiving off the loans
  • This scheme covers all the cooperative loans taken up by the farm labourers and landless farmers
  • Under this scheme the state government will waive off the loans amounting to Rs. 520 crores in total
  • It aims at ensuring welfare of all the farm labourers and landless farmers in the state
  • It will turn out to be a boon for the beneficiaries in difficult and testing times

Scheme Details:

  • Chief Minister Amarinder Singh launched Debt waiver scheme for farm labourers and landless farmers on August 20, 2021.
  • This scheme is launched marking the 77th birth anniversary of former Prime Minister Rajiv Gandhi.
  • Under this scheme the state government will waive off the loans amounting to Rs. 520 crores in total.
  • This amount will be with respect to the principal amounts of cooperative loans provided to the farm laborers and landless farmers as on July 31, 2017 along with simple interest on those loans at the rate of 7% p.a. as on March 6, 2021.
  • This scheme covers all the farm labourers and landless farmers.
  • This scheme will benefit about 2.85 crore farm labourers and landless farmers under the scheme.
  • This scheme will be of benefit to the beneficiaries wherein their livelihood will be secured in difficult times.
  • It will ensure their welfare and social security.

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