Punjab Loan Waiver Scheme Kisan Karz Mafi Yojana ( Farmers List Registration Process) 

 

Punjab Loan Waiver Scheme Kisan Karz Mafi Yojana ( Farmers List Registration Process) 

As most of the rural people in Punjab are associated with farming, the state government has announced a special scheme for the agricultural workers. The name of the scheme is Punjab Loan Waiver Scheme. With this program, the state government will help the agricultural workers by releasing the pressure of loan from their shoulders.

Punjab Loan Waiver Scheme Kisan Karz mafi Farmers List in Punjab

 

Scheme Name Loan Waiver Scheme
Announced By Chief Minister of the state Amrinder Singh
Declaration Date June 2017
Supervised By Farmer’s Welfare Department
Target Audience  Farmers
Official Site Coming Soon

Key features of the scheme

  1. Empowering the farmers of the scheme – The main aim of the government is to assist the poor farmers in getting relief from the credit repayment that they have taken from the banks, for agricultural purpose.
  2. For small, marginal and other farmers – As per the highlighted features of the scheme, the monetary assistance will be given to the farmers that have a significant amount of farm land. The same benefits will also be given to marginal and small farmers.
  3. Total beneficiaries under the scheme – As per the government estimates, the scheme will provide monetary relief to almost 10.25 lakh farmers, residing in the state.
  4. Credit waiver amount – It was announced that all the farmers, applying under the scheme will get a discount of Rs. 2 lakhs. A loan amount of Rs. 2 lakhs will be cleared.
  5. Outstanding credit amount – As per the reports of the banks and the state government, the total amount of outstanding agricultural credit amount is Rs. 59,621 Crore.
  6. Banks that the scheme enlists – All the banks that are operating under the state authority, Urban Cooperative Banks, public banks, private banks and rural banks in the specific region will be enlisted under the farmer welfare program.
  7. Number of credit accounts – As per the data that has been provided by the government, a total of 20.22 lakh accounts fall under some kind of agricultural credit. These accounts will be served as per the scheme as they are still to make the repayment of the net amount and the interest.

Eligibility criteria of the scheme

  1. For the farmers of Punjab – The benefits of the program will be provided to the farmers who are residing within the borders of Punjab. The farms must also be located in the state. Only then will they be allowed to apply for the scheme.
  2. Farm measurement related criteria – It has been highlighted in the scheme that only those small and marginal farmers who have farms that are less than 2.5 acres in measurement will get complete waiver of 2 lakhs. The other farmers must have a farm that measures from 2.5 to 5 acres.

Getting the application form

As the scheme has been launched recently, not much has been declared about the application process. But if online process is started, and then the applicants will be able to get the application form will be available from the authorized website of the scheme. For now, the registration forms can be acquired from the office of the respective District Commissioner.

The registration process

The state government has not declared anything about the registration procedure of the scheme. It can either be via offline or online procedures. As the respective departments take the decisions, the common farmers will be notified via the press.

Important documents required

  1. Residential proof – Due to the exclusivity of the welfare scheme, it is mandatory for the applicants to attach proper residential papers with the application form. It will assist the verification officers to make sure that only the residents of the state are getting the benefits.
  2. Documents of the land – To support the claims that the applicant is actually a farmer and has a farm that falls within the criterion, the attachment of papers of the land are also a must. It will make things easy for the verification authority.
  3. Documents of the credit – The papers and documents, issued by the banks, while the agricultural loan was acquired must be provided for verification as well.
  4. Details of the account – As the loan waiver will be done via the respective bank account of the farmer, the details of the bank, the branch, the account number and other associated details must be provided by the applicant.
  5. Aadhar Card – The Aadhar card is mandatory for getting the benefits of any state or central government sponsored schemes. So, all farmers who desire to get the credit waiver need to possess the Aadhar number.
  6. Identification details – The applicant must provide all personal details like name, contact details, district and name of village. These must be filled in the application form and any errors will lead to the disqualification of the application.

Budget allocation 2017

As per the information given by the state government of Punjab, it will require a large amount of money to provide the benefits of the program to such huge number of beneficiaries. A total allocation of 400 crore has been done by the state authority. The money will be utilized for providing monetary respite to all the farmers who have taken any kind of credit to meet the requirements of agriculture.

Conclusion

The scheme will help the poor farmers in getting some respite. With the credit pressure released from the shoulders of the farmers, they can concentrate more on the agricultural activities. They will no longer have to worry about the payment of interest and the monthly EMI.

Other Scheme 

  1. Automatic EPF Transfer using Composite Declaration Form-11 in case of Job Transfer
  2. Pradhan Mantri Saubhagya Yojana 2017