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An I-Day gift for Punjab farmers

Staff Correspondent

Chief Minister announces one-time settlement of agriculture loans

CHANDIGARH: As an Independence Day gift to debt-ridden farmers of the State, Punjab Chief Minister Amarinder Singh on Tuesday announced a "One Time Settlement'' (OTS) scheme for agricultural loans of cooperative banks to farmers who had repaid 100 per cent or more of their principal amount.

Capt. Singh made this announcement while addressing a gathering at the Independence Day celebrations organised at the YPS Stadium in Patiala. He said that while the State Government had already reduced the rate of interest from 14 per cent to 7 per cent, the latest announcement would account for a direct relief worth Rs. 211 crore to the farmers.

Outstanding contribution

The Chief Minister said the Punjabis had not only played a vanguard role in the freedom struggle but also made an outstanding contribution in making the country self-reliant in food production. "A modest beginning has been made towards ushering the second green revolution like the first one, when Punjab would once again lead the nation in attaining self-sufficiency in agro products other than wheat and paddy,'' he said underlining the need to adopt better farm practices and marketing strategies to make agriculture more sustainable and dynamic.

The Chief Minister pointed out that most farmers owned less than 1.5 acres of land and the persistent hike in the agricultural inputs and old farm practices had resulted in substantial decline in their income. While there was a need to acclimatise the farming community with practices that ensure maximum profitability, he stressed that with the advent of WTO it was far more important to motivate the farming community to shift from the traditional wheat-paddy rotation to remunerative crops like oil seeds, pulses, fruits and vegetables.

Dwelling on "the endeavour of the Government to increase the income of our farmers by 400 per cent", Capt. Singh listed the various agreements the State Government had made with the large business houses who had assured substantial investment in the farm sector.

Capt. Singh also announced the decision of the Government to set up a Rural University at Talwandi Sabo in Bathinda district to ensure access of quality education to all rural children at affordable cost. He said the Vice-Chancellor of Panjabi University, S.S. Boparai, had been asked to prepare a draft paper for the establishment of this university. Announcing that the Government would repair the water channels of villages at a cost of Rs.75 crores, Capt. Singh justified his decision to enact a legislation to scrap the river water sharing agreements. He said nine lakh hectares in five southern districts faced the danger of being rendered barren, affecting 16 lakh families.

The Chief Minister also announced plans to enact legislation to ensure reservation for Balmikis and Mazhbi Sikhs during the forthcoming Assembly session slated to be held on September 14 and 15.

Fiscal scene

Patting his Government for improvement in the financial position of the State, Capt. Singh said concerted efforts for more than four- and- a -half years had borne fruit which were reflected in the improved fiscal indicators. He said Punjab was the only State in the country that had a deposit of Rs. 2500 crores with the Reserve Bank of India.

Earlier, the Chief Minister inspected a guard of honour and took the salute at an impressive march past and witnessed an impressive cultural show. He also honoured 21 eminent personalities in the different fields for their outstanding contributions with State Awards. Besides, the Chief Minister disbursed cheques worth Rs. 1crore of marginal money subsidies of the Punjab Khadi and Village Industry Board to the beneficiaries.

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