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LATEST NEWS UPDATES | The politics of loan waivers: Deep despair of Punjab's excluded farmers -Prabhjit Singh

The politics of loan waivers: Deep despair of Punjab's excluded farmers -Prabhjit Singh

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published Published on Apr 6, 2018   modified Modified on Apr 6, 2018
-Hindustan Times

Lip service: Amarinder Singh sought votes on the promise of a waiver, but now faces heat as more than half the state’s farmers have been left out of the scheme.

Bathinda:
The weather-beaten face of Rajpal Singh shows signs of anxiety as he stands in one corner of his eight-acre farmland in Punjab’s Bathinda, surveying the standing wheat crop that is almost ready for harvest.

Singh might get a reasonable price for his produce but it’s his Rs 12-lakh loan he is more worried about.

What started off with a debt of a few thousand rupees has now swelled to huge proportions – Rs 2 lakh of it from private money-lenders – and continues to grow every passing year.

Rajpal’s anger and frustration have multiplied over the past three months, ever since the Congress government led by chief minister Captain Amarinder Singh, announced a loan waiver for the state’s farmers.

The government’s announcement came with a rider, though – it applies only to loans taken from cooperative societies, for peasants owning not more than 2.5 acres of land and a loan value of up to Rs 2 lakh.

A major chunk of the farmers’ estimated Rs 73,000-crore loan burden is from non-cooperative banks. “It’s mere drama,” Rajpal says in Kotfatta village, not trying to hide his contempt. Others are angry too.

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Hindustan Times, 6 April, 2018, https://www.hindustantimes.com/punjab/the-politics-of-loan-waivers-deep-despair-of-punjab-s-excluded-farmers/story-og43IIdFAKrFaT9TK3NUVK.html


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