Debt-ridden Punjab gets Rs 1.18 lakh cr budget

Making the announcements in in the state Assembly, Amarinder said the move would benefit 10.25 lakh farmers, including 8.75 lakh who holds up to 5 acres. While Andhra Pradesh and Telangana had announced farm loan waivers in 2014, Tamil Nadu, Uttar Pradesh and Maharashtra have followed in their footsteps recently.

The chief minister added that the state government arrived at this decision on the basis of an interim report by an expert group, which is headed by eminent economist T Haque.

He said the state government was going to ensure that farmers prosper in Punjab by encouraging a support system which also took care of ecological balance so that small and marginal farmers have sustainable income.

The government also said it will raise the compensation to these families from Rs3 lakh to Rs5 lakh.

For debt relief to farmers for loans raised from non-institutional resources, the government has made a decision to review the "Punjab Settlement of Agriculture Indebtedness Act" to provide the desired relief to the farmers through mutually acceptable debt reconciliation and settlement, which shall be statutorily binding on both the parties, the lender and the borrower. This is an unprecedented heartless act of this government, it said. Instead of just asking large farmers to voluntarily give up power subsidy, Amarinder should initiate power reforms.




Amritsar, June20:Chief Minister Amarinder Singh today asked the Akali Dal leadership to come clean with the names of those allegedly involved in looting Punjab exchequer through manipulation of the sand mine auctions during their rule.

Telling farmers, "Akal naal vaah (cultivate smartly)", Manpreet started the presentation of the new Congress regime's first budget by saying that productivity couldn't witness a further increase, and farming couldn't sustain on growing for the central pool alone.

Besides, Rs 10 crore have been kept to make available computers in the primary schools and Rs 5.25 crore for green boards, she said.

These include creation of land banks in all major towns to enable young entrepreneurs to set up industries or shift existing industries to new areas, fiscal incentives for border and kandi areas, simplification of process of obtaining CLU and the establishment of Industrial Policy Implementation Council under the chief minister to oversee time-bound development of industry in the state.

He also announced a series of other measures to bring the agriculture sector back on track.

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