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CM to meet Jaitley today, to seek aid for loan waiver

Chandigarh, July 20: The Punjab Government is all set to approach the Union Government for the waiver of crop loan of commercial banks. The issue will figure in Thursday’s meeting between Chief Minister Capt Amarinder Singh and Union Finance Minister Arun Jaitley.

Jaitley

The state government will press the Centre to waive the crop loan debt of about Rs 6,000 crore of commercial banks.A senior state government functionary said apart from the crop loan of the commercial banks, about Rs 3,600 crore of crop loan was outstanding against small and marginal farmers with the cooperative banks.The Congress government is in a tight spot with the Opposition parties accusing it of misleading farmers over the farm debt waiver scheme.The Chief Minister is also expected to take up with Jaitley the issue of settlement of Rs 31,000 Cash Credit Limit-related debt to ease the state’s financial burden.Apart from demanding that out of the total debt, the interest component of Rs 18,500 crore should be waived, the state has also been raising the issue that a higher rate of interest is being levied on the amount.The Chief Minister is also slated to speak to Jaitley on GST exemption on langar (community kitchen) and prasad that is distributed at various religious places.

News Source: http://www.tribuneindia.com

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