Punjab Debt Waiver Scheme (Kisan Karj Mafi Yojana) for Small & Marginal Farmers

January 7, 2018 | UPDATED ON: March 26, 2018
Punjab Debt Waiver Scheme 1st Phase

Punjab government has finally launched Punjab Debt Waiver Scheme (1st phase) for debt-ridden farmers on 7 January 2018 at Mansa district. Subsequently, the state govt. is going to waive off loans of up to Rs. 2 lakh of small and marginal farmers. At the official launch of this Kisan Karj Mafi Yojana, govt. provides debt relief certificates as a confirmation document to end their debt. Punjab Crop Loan Waiver Scheme will benefit around 5.63 lakh farmers in its initial (1st) phase.

Accordingly at the official launch, the state govt. has distributed debt-relief certificates to 10 farmers. This scheme will cover around 47,000 farmers having loan amount of Rs. 167.39 crore. These farmers had taken the loans from 701 primary agriculture cooperative societies located in these 5 districts – Mansa, Faridkot, Muktsar, Bhatinda and Monga. To see the Release of Funds – Click Here

Latest Update (as on 26 March 2018) – Around 50,000 beneficiaries of 6 districts – Gurdaspur, Pathankot, Hoshiarpur, Shaheed Bhagat Singh Nagar, Amritsar and Tarn Taran would get relief of around Rs 200 crore at Gurdaspur in first week of April.

Update (as on 15 January 2018) – Punjab govt. has introduced a new system of self declaration on land holdings for beneficiaries such that the benefits of this scheme reaches the poor farmers properly. All the deserving and eligible candidates will get benefits and rich people will get excluded through this process. Moreover, this self declaration process will also excludes govt. employees & retired pensioners who pay income tax. This Self declaration which follows distribution of random cheques will make this process transparent.

Update (as on 10 January 2018) – Punjab govt. clears another 1.15 lakh more cases under debt waiver scheme which will amount to Rs 580 Crore. This amount will get distributed to the farmers before 31 January 2017. Thus state govt. has covered 1.6 lakh cases (47000 cases on 7 Jan + 1.15 lakh Cases on 10 Jan).

Under this Farm Loan Waiver Scheme, Punjab govt. has identified 5.63 lakh small and marginal farmers in the state who have taken loans of around 2700 crore from the cooperative institutions as on 31 March 2017.

Punjab Debt Waiver Scheme (Kisan Karj Mafi Yojana) – 1st Phase

The important features of this Punjab Farm Loan Waiver Scheme (1st Phase) are as follows:-

  • Punjab Debt Waiver scheme is to waive off loans of up to Rs. 2 lakh of small and marginal farmers in the state.
  • Under this scheme, govt. will waive the loans of all the marginal farmers having land holdings of less than 2.5 acres and small farmers having land holdings between 2.5-5 acres.
  • Moreover, govt. will provide debt relief to around 5.63 lakh beneficiary farmers in this first phase.
  • These farmers had taken loans of approx. Rs. 2700 crore from the cooperative lending institutions.
  • Accordingly, Punjab govt. has already identified 3.20 lakh beneficiaries. In addition to this, the state govt. has approved more than 1 lakh cases with loan amount of Rs. 748 crores.
  • Moreover, farmers who have availed loans from the commercial and private banks will get settled in the next phase.

Moreover at official launch of this crop loan waiver scheme, govt. has provided debt-relief certificates to around 47000 farmers in Punjab.

Highlights of Punjab Debt Waiver Scheme (1st Phase) – Quick Facts

The highlights of this Punjab Kisan Karj Mafi Yojana are as follows:-

SchemePunjab Debt Waiver Scheme – 1st Phase
AnnouncementCaptain Amarinder Singh
Official Launch Date7 January 2018 at Mansa, Punjab
Eligible BeneficiariesMarginal Farmers (Less than 2.5 acre) and Small Farmers (2.5-5 acres) land holdings
No. of Beneficiaries5.63 lakh (out of total 10.25 lakh)
Total Loan Waiver Amount for 1st PhaseRs. 2700 crore (out of total 9500 crore)
Loan Amount to get Waived OffUp to Rs. 2 lakh
Total Outstanding Crop / Farm LoanRs. 59,921 crores
Banks Covered Under 1st phaseCooperative Banks

The state govt. is going to give debt waiver certificates to the selected beneficiaries in this 1st phase. There are 4 phases to complete the entire process of Karj Mafi.

The total number of farming households in the state are 17.5 lakhs. Out of these, govt. will cover around 10.25 lakh families in this Punjab Farm Loan Waiver Scheme.

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