In an attempt towards realising its poll promise to waive all farm debts in the State, the Punjab government has set up an expert group to assess the quantum of agricultural debt, and suggests ways and means for its waiver.
Mr. T. Haque, former chairman of the Commission for Agricultural Costs and Prices, has been appointed chairman of this expert group, which has been tasked with submitting its report within 60 days. The two other members are Pramod Kumar Joshi, Director-South Asia, International Food Policy Research Institute and B.S. Dhillon, Vice-Chancellor of the Punjab Agricultural University, Ludhiana.
An official notification issued in this regard by additional Chief Secretary (Development), said the expert group would be assisted by the officers of the State government, including additional Chief Secretary-cum-Financial Commissioner (Development) and Principal Secretary Finance.
“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,” said the notification.
₹80,000 crore in all
Where Notably, the total farm debt in Punjab stands at more than ₹80,000 crore, including crop loans in the cooperative sector amounting to about ₹ 12,500 crore. The average debt per farm household in Punjab works out to ₹8 lakh (including crop loan).
