Debt Waiver Scheme in Punjab 2019

Punjab Debt Waiver Scheme 2019-20                   

 (Eligibility Criteria, Application Form Process, Check Beneficiary list, Status Online, Last Date, Portal) [For Landless Farmers And Agricultural Laborers]

To offer better financial support to the poor farmers of Punjab, the state government has announced the immediate implementation of Debt Waiver Scheme. It will pave the path for the prosperity and respite of agricultural labors and farmers who don’t have their own plot. The state government will forgive the loan so that these farmers can concentrate on better farming practices. To know more about the salient features, eligibility, documents required and registration process, read the article carefully.

Debt Waiver Scheme punjab

Launch details

Name of the schemeDebt Waiver Scheme
Launched inPunjab
Launched byCM Amarinder Singh
Date of announcementFebruary 2019
Date of implementation2019 – 2020
Target beneficiariesAgro-labors and landless farmers

 Key features of the scheme

  1. Development of poor farmers – The primary objective of the Punjab government behind the implementation of the scheme has been to offer some financial respite to the landless agricultural labors.
  2. Loan waiver – Under the new scheme, poor and landless farmers and agro-labors will be allowed a waiver of Rs. 25,000. The credit will be waived off only if has been taken for agricultural purposes.
  3. Total budgetary allocations – The CM of Punjab has mentioned that the implementation of this scheme will require as much as Rs. 520.55 crore. The money will be arranged by the Punjab government.
  4. Total number of beneficiaries – An estimate shows that with the implementation of this project around 2.85 lakh applicants will receive the benefits.
  5. Percentage of Dalits – The application of this developmental program will offer benefits to 70% of the Dalits.
  6. Presence of two accounts – There are many farmers who have two separate accounts, from where they have taken loan. In such cases, only one account will be considered for the loan waiver. The account that has greater outstanding loan will be selected under the scheme.
  7. Former scheme – Before the implementation of the Debt Waiver Scheme, the Punjab government had started the Debt Relief Scheme. The scheme was launched in October 2017. This project focused on the marginal and small agricultural workers. Under this project, Punjab government offered credit waiver of up to 2 lakhs. Till date, the authority has paid around Rs. 5.47 lakhs for keeping the promises made under the scheme. The budgetary allocation, made by Punjab government is around Rs. 4,600 crore.

Eligibility and documents necessary for application

  1. Resident of Punjab – Only those applicants, which are legal residents of the state, will be able to attain the perks of this scheme. Thus, interested farmers must submit their official residential documents.
  2. Landless farmers only – In case the farmer has a land, registered in his name, then he will be barred from getting the benefits. Agricultural workers and landless cultivators will have to furnish adequate papers to support the claims.
  3. Maximum waiver amount – The state CM announced that applying candidates will at the most Rs. 25,000 waiver. Thus, applicants will have to produce the loan papers.
  4. PACS certified farmers only – If any landless farmer or agricultural labor desires to attain the financial perks, then he must be registered with the PACS or the Primary Agriculture Cooperative Societies. If the farmers cannot produce the certificate, then he will not get the benefits.
  5. Date of loan issuance – Only those applicants will be able to enroll for attaining the benefits of this scheme who have acquired the loan before 31st march 2017.
  6. Personal ID papers – All applicants must offer photocopies of their personal identification documents. The photocopy of the voter card, Aadhar card and the ration card will help the government officials to authenticate the identity of the applicants.
  7. Bank account details – The interested applicants will have to submit their bank account details. They will have to attach the details like bank account number, IFSC code, branch details and branch code.

How to get application form and apply for the scheme?

The new loan waiver scheme project has been announced in the month of February 2019. The Chief Minister of Punjab has only mentioned the salient features of the project. Nothing has been mentioned about the final registration process. Once the respective department releases the enrollment details, you will get it on this site.

Helping the poor farmers will boost their agricultural activities. When they no longer have to worry about the financial burden, they will be able to attain better yield. The money they save will be spent on purchasing better quality seeds and fertilizers. As these will pave the path for better crop growth, it will increase the earning of the farmers.

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