State government of Punjab has all set to release the amount to the farmers who are going to be benefited under
Punjab farm loan waiver. A notification has been released by the government regarding to the distribution of Punjab farm loan waiver amount.
As per the notification, the process of distributing the amount under Punjab Farm Loan Waiver Scheme to be started in the end of the year or in the start of next year. According to notification, the state government has announced to provide a loan waiver of Rs 9,500 crore to nearly 10.25 lakh marginal and small farmers.
Manpreet Badal, Finance Minister of Punjab, informed that the state government prepared a plan to start distributing benefits of farm loan waiver scheme in Punjab. The farmers may get the benefits of Punjab Karj Mafi Yojana soon as the process of distributing amount to be started in end of December or in the start of January 2018. However, the government is finalising the final date of distribution, for notification to be released soon.
Distributed of Punjab Farm Loan Waiver Amount
Loan amount which to be waived off by the government to be distributed in the following manner.
- The amount under Punjab loan waiver scheme to be distributed in two phases.
- An amount of Rs 9,500 crore will be distributed to nearly 10.25 lakh marginal and small farmers.
- Loan waiver upto the amount of Rs. 2 lakh will be given to the marginal farmers having land up to 2.5 acres and small farmers having land up to 5 acres will be given a loan waiver up to Rs 2 lakh.
- The loan waiver from nationalised banks will not be touched in the first installment and The loans from nationalized banks will be taken up in the next installment.
The scheme was announced earlier and now the government is going to make this scheme successful by completing their promise of distributing the benefits of farm loan waiver.