The latest stage of the Punjab Debt Waiver Scheme has been initiated by the Punjab state government to support 1.09 lakh small and marginal farmers who own up to 5 acres of land. Under the Punjab Crop Loan Waiver initiative, the debt of 5.63 lakh farmers, totaling Rs. 4,610 crore, has already been cleared. This includes 1.34 lakh small farmers who received Rs. 980 crore in relief and 4.29 lakh marginal farmers who benefited from Rs. 3,630 crore in loan waivers. This article covers the comprehensive details of the Punjab Farm Loan Waiver Program and all significant updates released to date.
Punjab Debt Waiver Program Details - All Phases
Read this guide to learn everything about the debt relief program, including its core features, significant announcements, and the financial aid disbursed to date. We have organized this article chronologically to provide a clear history of the Crop Debt Relief initiatives in Punjab.
Punjab Debt Waiver Scheme Latest Update (23 December 2021)
On December 23, 2021, Punjab Chief Minister Charanjit Singh Channi announced the release of Rs. 1,200 crore to settle agricultural debts up to Rs. 2 lakh for eligible farmers. The CM also declared the withdrawal of all FIRs filed against farmers who participated in the protests against the three repealed farm laws. This new funding is intended to assist approximately 1.09 lakh small and marginal farmers owning land up to 5 acres. To date, the state government has successfully waived Rs. 4,610 crore in loans for 5.63 lakh farmers, consisting of Rs. 980 crore for 1.34 lakh small farmers and Rs. 3,630 crore for 4.29 lakh marginal farmers.
Additionally, CM Channi expanded the scheme to include small and marginal farmers who hold up to 5 acres of land and have outstanding loans up to Rs. 2 lakh with the Punjab State Cooperative Agriculture Development Bank (PSCADB), previously