Agri Loan

Over Rs 20,196 cr outstanding: Punjab

Saurabh Malik
Tribune News Service
Chandigarh, December 9 [2008]

Punjab today claimed that the outstanding agriculture loan in the state was running into over Rs 20,000 crore.

In a reply filed before the Punjab and Haryana High Court, joint secretary in agriculture department Gurwaryam Singh said agriculture loan worth Rs 20,196.67 crore was outstanding against 15,66,202 farmers in the state as on December 31 last year.

The officer also made it clear that the state was serious on the issue of tackling the matter of farmers’ suicide. The cooperative banks had exceeded the target while disbursing loans to the farmers to prevent suicides. The banks had advanced Rs 1927.77 crore of agriculture loan against a target of Rs 737.10 crore, during the current year.

Quoting fresh figures, he said agriculture loan of Rs 8110.95 crore was advanced by the corporative banks in the state in 2007-08. In the current year, a target of Rs 7370.10 crore had been set up.

It was added that the state, “in order to meet the requirement of the farmers with respect to the raising of crop loan through cooperative banks, had issued 8,43,997 kissan credit cards, sanctioning a limit of Rs 4829.07 crore”. The loan was advanced at the rate of seven per cent to the farmers.

A revolving cash credit of Rs 1927.77 crore was sanctioned to 1, 45,226 farmers up to March 31 for meeting their socio-economic requirements and save them from the traditional money lenders.

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