Punjab Farmer Debt Waiver Scheme Application procedure, List

Punjab Farmer Debt Waiver Scheme Details Online

1. Eligibility for Punjab Farmer Debt Waiver Scheme
2. Benefits of Punjab Farmer Debt Waiver Scheme
3. How to Apply for Punjab Farmer Debt Waiver Scheme

Punjab Government had approved the Farmer Debt Waiver Scheme for the benefit of 2.85 lakh farm laborers & landless farmers of Primary Agriculture Cooperative Societies (PACS) with an outlay of Rs. 520.55 crore. Punjab Farmer Debt Waiver Scheme is a loan relief plan that will benefit around 2.85 lakh people with an outlay of Rs. 520.55 crore. The cabinet committee lead by Chief Minister Amarinder Singh has given approval to the Farmer debt waiver plan comprising of 70% Dalits. Punjab Debt Waiver Scheme for Farm Laborers is an extension of the Debt Relief Scheme which is a debt waiver scheme for small and marginal farmers.

Punjab Farmer Debt Waiver Scheme also includes the principal amount of Rs. 388.55 crore, Rs. 78 crore as interest till 31 March 2017. Also with the approval of Rs. 54 crore on account of interest with effective from 1 April 2017 to 31 March 2019. Punjab Government’s budget is presented in the last month, the finance minister has made an announcement to waive off loans of landless farm laborers while earmarking Rs. 3,000 crore for allocation of Punjab Farm debt waiver scheme.

Eligibility for Punjab Farmer Debt Waiver Scheme

• Applicant should be a resident of the state Punjab.
• Applicant should be a individual farm labor.
• Applicant should be a landless farming member of PACS.
• Only those PACS will remain eligible for debt relief plan who are already availing advancement from District Central Cooperative Banks (DCCBs).
• The employees, pensioners of government, semi government, public sector undertaking of any state, central government or income tax (IT) payee are eligible to apply for this scheme.

Benefits of Punjab Farmer Debt Waiver Scheme

• Punjab Farmer Debt Waiver Scheme is a loan relief plan that will benefit around 2.85 lakh people with an outlay of Rs. 520.55 crore.
• To waive off loans of landless farm laborers
• The cabinet committee lead by Chief Minister Amarinder Singh has given approval to the Farmer debt waiver plan comprising of 70% Dalits.
• The amount eligible for debt waiver scheme will include the outstanding principal amount up to a limit of Rs. 25,000 as on 31 March 2017.
• The simple interest would be charged at the rate of 7% per annum.
• If any individual has more than one account then the relief would be given to the account of higher outstanding amount subject to a maximum ceiling of Rs. 25,000 as principal amount.
• In order to avoid duplication all the accounts of the beneficiaries are going to be Aadhaar seeded.

How to Apply for Punjab Farmer Debt Waiver Scheme

Those candidates who are interested and have above mentioned eligibility can apply to the Scheme. Farmer debt waiver scheme portal of Punjab had not yet started to login and make online registrations. Punjab farmer loan waiver notification PDF will be available to you in few days to check for the Registration process to get the beneficiary. After receiving the applications through online portal the Punjab Farmer loan waiver list will be released.