Punjab passes Bills to settle farm dues and protect cows

Posted on:23 Mar 2016 13:23:26
Punjab passes Bills to settle farm dues and protect cows
23 March 2016 Current Affairs: The Punjab government on March 22,2016, passed a Bill with a framework to regulate and settle agriculture debts.The House also passed the Punjab Gau Sewa Commission Bill to protect cows. Neighbouring Haryana had passed a cow protection Bill earlier, after the BJP government had come to power.According to a Punjab Agricultural University (PAU) study of 2013, rural indebtedness in Punjab was around Rs 35,000 crore. This was the main reason for the death of more than 5,000 farmers in the past 10 years.Meanwhile, moving the Punjab Settlement of Agricultural Indebtedness Bill on the floor of the House on the concluding day of the Budget session, Agriculture Minister Tota Singh said the Bill aimed to provide a forum to determine and expedite settlement of debts of agriculturists and others dependent on agriculture.These people raised loans from institutional and non-institutional resources, he said, adding that institutional loans were regulated through various special legislation. However, non-institutional loans were largely unregulated with no easily accessible forum for remedy.According to the Bill, the interest payable on the debt shall be calculated at such rate as may be notified by the government," he said. "The interest payable on the debt shall be simple interest calculated on a yearly basisThe government would establish a District Agriculture Debt Settlement Forum at every district of the state to implement the Act, Singh said. The chairman of the forum would be a retired district and sessions judge or a retired additional district and sessions judge.
The Punjab government on March 22,2016, passed a Bill with a framework to regulate and settle agriculture debts.The House also passed the Punjab Gau Sewa Commission Bill to protect cows. Neighbouring Haryana had passed a cow protection Bill earlier, after the BJP government had come to power.According to a Punjab Agricultural University (PAU) study of 2013, rural indebtedness in Punjab was around Rs 35,000 crore. This was the main reason for the death of more than 5,000 farmers in the past 10 years.Meanwhile, moving the Punjab Settlement of Agricultural Indebtedness Bill on the floor of the House on the concluding day of the Budget session, Agriculture Minister Tota Singh said the Bill aimed to provide a forum to determine and expedite settlement of debts of agriculturists and others dependent on agriculture.These people raised loans from institutional and non-institutional resources, he said, adding that institutional loans were regulated through various special legislation. However, non-institutional loans were largely unregulated with no easily accessible forum for remedy.According to the Bill, the interest payable on the debt shall be calculated at such rate as may be notified by the government," he said. "The interest payable on the debt shall be simple interest calculated on a yearly basisThe government would establish a District Agriculture Debt Settlement Forum at every district of the state to implement the Act, Singh said. The chairman of the forum would be a retired district and sessions judge or a retired additional district and sessions judge.

Daily Current Affairs Videos Video Link
20th April 2019 Current Affairs Video
19th April 2019 Current Affairs Video
17th April 2019 Current Affairs Video
16th April 2019 Current Affairs Video
15th April 2019 Current Affairs Video
Watch more Current Affairs Videos

Monthly Current Affairs

Fresherslive telegram Group

Current Affairs Section

Daily Current Affairs Quiz


Subscribe to Current Affairs

Enter your email to get daily current affairs
SUBSCRIBE

Currentt Affairs 2019 April

21 APRIL
NEWS
20 APRIL
NEWS
19 APRIL
NEWS
18 APRIL
NEWS

Currentt Affairs 2019 March

31 MARCH
NEWS
30 MARCH
NEWS
29 MARCH
NEWS
28 MARCH
NEWS

Currentt Affairs 2019 February

28 FEBRUARY
NEWS
27 FEBRUARY
NEWS
26 FEBRUARY
NEWS
25 FEBRUARY
NEWS




×

₹ 250

₹ 1000

Only 14 days left !