Punjab

Punjab sets up panel on farm debt waiver

April 15, 2017 07:40 PM

Chandigarh, April 15 (Punjabkhabar Bureau): A day after state finance minister spilled the beans by announcing a bonanza for farmers in three months, Punjab Chief Minister Captain Amarinder Singh today set up an expert group to assess the quantum of agricultural debt, and suggests ways and means for its waiver.

Dr T. Haque, former head of the Commission for Agricultural Costs and Prices, has been appointed chairman of the group, which has been tasked with submitting its report within 60 days.

The two other members of the group are Dr Pramod Kumar Joshi, Director – South Asia, International Food Policy Research Institute, South Asia Regional Office;  and Dr B.S. Dhillon, Vice-Chancellor, PAU, Ludhiana.

An official notification issued by Additional Chief Secretary (Development) said the group would be assisted by officers of the State Government, including Additional Chief Secretary-cum-Financial Commissioner (Development) and Principal Secretary Finance.

Dr Balwinder Singh Sidhu, Commissioner and Director Agriculture, Punjab, shall assist the group as Convener.  He shall convene the meetings which may associate officers from the banking sector, including Chief General Manager, Nabard, Chandigarh, and Convener State Level Bankers’ Committee, Punjab, Chandigarh.

Besides assessing the total amount of credit including institutional and non-institutional credit availed by different categories of farmers, the group will assess the quantum of bad loans or debt and suggest the methodology for remission of debt. It will also suggest ways and means to raise resources for the debt waiver, according to the notification.

The group may co-opt any other member, if so required, to achieve its objectives, in order to facilitate the state government’s efforts to ameliorate the sufferings of the farmers.

The Punjab Mandi Board shall provide both secretariat assistance and financial support including payment of allowance to the non-official members for effective and proper functioning of the Group, as per the notification.

 

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