Punjab Farm Loan Waiver Scheme 3rd Phase – 2.15 Lakh Farmers Debt to be Waived

Punjab Farm Loan Waiver Scheme 3rd phase to start to waive off cooperative bank loans of 2.15 lakh small farmers having landholdings between 2.5 to 5 acres, debt waiver scheme 2nd phase (karja mafi scheme) completed in which govt. waived off commercial bank loans of 1.09 lakh marginal farmers with an outlay of Rs. 1771 crore

Dated: December 8, 2018 | Updated On: December 17, 2018 | By: Karan Chhabra | |
Punjab Debt Waiver Scheme Phase 3

Punjab government is going to start the Farm Loan Waiver Scheme 3rd phase in which govt. would waive off loans of 2.15 lakh small farmers. These farmers would get debt waiver for loans of cooperative banks. On 7 December 2018, CM waived off commercial bank loans of 1,09,730 eligible farmers of 4 districts and gave debt relief to a tune of Rs. 1771 crore marking the completion of 2nd phase of debt waiver scheme.

The debt relief amount of 2nd phase of crop loan waiver scheme would be transferred directly into the accounts of the marginal farmers who have taken loans from commercial banks. CM has also announced the extension of Debt Waiver Scheme (Karja Mafi) to farmers having landholdings between 2.5 to 5 acres.

Moreover after the completion of 3rd phase of debt waiver scheme, govt. will waive off loans of 50,752 small farmers of commercial banks in the 4th phase of Punjab Karja Mafi Scheme.

Punjab Debt Waiver Scheme Phase 3

Punjab govt. had started Farm Loan Waiver Scheme in 2017 to waive off farm loans upto Rs. 2 lakh of all marginal farmers and also to provide waiver to small farmers who had taken loans upto Rs. 2 lakh under the scheme. In the 1st phase of Debt Waiver Scheme, the state govt. waived off cooperative bank loans of 3.18 lakh marginal farmers of Mansa, Bathinda, Faridkot, Muktsar and Moga districts amounting to a total sum of Rs. 1,815 crore.

On 7 Dec 2018, govt. has waived Rs. 1,771 crore commercial bank loans of 1.09 lakh marginal farmers in the 2nd phase. The farmers covered in the 2nd phase of debt waiver scheme belong to the districts of Patiala, Ludhiana, Sangrur and Fatehgarh Sahib.

Now, CM announced the extension of the farm loan waiver scheme to farmers having landholding of 2.5 to 5 acres. These farmers would get debt waiver for loans of cooperative and commercial banks. In the Debt Waiver Scheme 3rd phase, cooperative bank loans of around 2.15 lakh small farmers would be waived off. Moreover in the Farm loan Waiver Scheme 4th phase, commercial bank loans of around 50,752 small farmers would be waived off.


Also ReadMP Farmer Loan Waiver Scheme

The state govt. of Punjab is also committed to waive off loans of landless labourers in the next phases of the implementation of Karza Mafi scheme.

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