On Monday, Punjab chief minister Capt Amarinder Singh declared a loan waiver for a section of the farming sector of the state. The loan respite includes a total waiver of crop loans of up to Rs 2 lakh for all small and marginal farmers who own up to 5 acres, and a flat relief of Rs 2 lakh for all other marginal farmers, irrespective of the loan amount.
The CM made the announcement during his speech in the Vidhan Sabha. He said that the move would benefit a total of 10.25 lakh farmers, including 8.75 lakh farmers up to 5 acres. Notably, Punjab as a state has 18 lakh farmers. The initiative would provide double the relief announced by the states of Uttar Pradesh and Maharashtra, he said.
This comes after the recent stir of farmers which occurred across various states in India, where farmers’ demonstrated protests only to ensure loan waiver from their respective governments. The agitation intensified which also lead to the killing of 6 protesting farmers in Madhya Pradesh.