Other States - Punjab   

Farmers' debt rises to Rs. 24,000 crores

Staff Correspondent

Issue of rural indebtedness has been taken up with Prime Minister and Ministry of Finance, says Amarinder Singh

CHANDIGARH: The Punjab Chief Minister, Amarinder Singh, has said that the total debt liability of the farmers in the State has risen to a whopping Rs 24,000 crores, while the annual income of the farm sector has stagnated at Rs 7, 200 crores.

This was disclosed by Capt Singh, while talking to reporters after he dedicated the 81 feet tall Mukte Minar in the memory of 40 muktas (the liberated ones) whose 301st anniversary of martyrdom was observed at Mukstar on Thursday. The structure, which is the tallest Khanda (double-edged sword) in the world, has been constructed using 150 tonnes of concrete and 13 tonnes of stainless steel and girdled with 40 ringlets to symbolise as many martyrs.

Giving the break-up figures of the debt, Capt. Singh said that of the total, Rs. 12,000 crores had been advanced through the unorganised sector like the local commission agents, Rs.7000 crores by Cooperative Banks and Rs. 5000 crores by nationalised banks.

The Chief Minister said that he had taken up the issue of rural indebtedness with the Prime Minister and Ministry of Finance separately to formulate a long-term policy to bail out the beleaguered Punjabi farmer from the debt trap that had at various occasions resulted in suicides.

Describing the situation as a grave social crisis, he said that it was the prime concern of the present government to assist the small and marginal farmer to emerge from the stagnating economy.

Asked about the next poll plank, Capt. Singh said that the Congress was not in a hurry and would give the Akalis a befitting reply once the latter published their manifesto.

hile stressing that performance would be the sole criteria for the selection of candidates, he said that the party was on an offensive when the opposition had gone on the back foot.

Earlier, addressing a rally on the occasion, Capt. Singh asked the people to seek explanation from the Akali Dal chief, Parkash Singh Badal, about his absence from one of the most sacred occasions in the Sikh history and accused him of adopting "double standards".

Capt. Singh further said that it was not for the first time that Mr. Badal had done this. He reminded that the Akali chief, despite making tall claims of being a protagonist of the Sikh cause, had earlier stayed away from the first ever Nagar Kirtan since Independence, which carried the holy Guru Granth Sahib in a golden Palanquin from Gurdwara Bangla Sahib, Delhi to Gurdwara Janamasthan Sri Guru Nanak Dev in Nankana Sahib in Pakistan.

The Chief Minister also charged Mr. Badal and the Shiromani Gurdwara Parbandhak Committee (SGPC) of embezzling Rs. 50 crores released by the then Prime Minister, Atal Behari Vajpayee, for the construction of Khalsa Heritage complex at Anandpur Sahib on the occasion of 300th anniversary of Khalsa Panth in 1999.

He said that while Rs. 43 crore were spent, the balance Rs. 7 crore was still unaccounted for.

Printer friendly page  
Send this article to Friends by E-Mail

Stories in this Section

Farmers' debt rises to Rs. 24,000 crores

Copyright © 2006, The Hindu. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu