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This is an archive article published on June 23, 2006

Punjab CM meets PM with bailout list for farmers

A year to go for the Punjab Assembly polls, Chief Minister Amarinder Singh today called on Prime Minister Manmohan Singh and Agriculture Minister Sharad Pawar here...

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A year to go for the Punjab Assembly polls, Chief Minister Amarinder Singh today called on Prime Minister Manmohan Singh and Agriculture Minister Sharad Pawar here, seeking a whole range of measures for his farmers. He has asked for a package of Rs 2,059.95 crore to bail them out of debt — in a recent report, Punjab farmers’ debt burden was found to be the highest in the country — besides an increase in the minimum support price (MSP) and more allocation for pulses.

He has sought money from the Centre to fund a package designed for small and marginal farmers. ‘‘We feel it is a small price for the GOI to recognise the untiring efforts of Punjab farmers,’’ said Singh after the meeting.

He wanted an adequate hike in the MSP of wheat and paddy in view of the recent escalation in prices of agricultural inputs. He expressed happiness that MSP was to be linked with the Consumer Price Index.

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Later, Capt. Singh called on Union Agriculture Minister Sharad Pawar and urged him for an upward revision of the MSP of wheat and paddy. He apprised Pawar of the draft of the Punjab Relief of Agricultural Indebtedness Bill, 2006 aimed at regulation of borrowings from moneylenders and commission agents, besides reconciliation of debt by the designated boards at the district level.

Captain’s demands

One Time Settlement (OTS) of Rs 209.36 crore for cooperative banks

One Time Assistance for Punjab Agriculture Cooperative Societies (PACSs) and Punjab Agriculture Development Banks (PADBs) to meet their losses amounting to Rs 198.79 crore

Rs 390 crore for settlement of commercial bank loans

One year moratorium on payment of interest on all agricultural loans advanced by cooperative and commercial banks (Rs 1,261.80 crore)

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