₹67.84 Crore Loan Waiver Reflects Respect for Scheduled Caste Families’ Struggles: CM
Amritsar, June 8,
Chief Minister Bhagwant Mann stated today that the Punjab government is wholeheartedly committed to the welfare of the state’s weaker and marginalized sections, leaving no stone unturned in this effort. Speaking at an event where loan waiver certificates were distributed to beneficiaries, he emphasized that the government is serving the common people with missionary zeal to empower them further.
Mann highlighted that the state government is using its resources to support the needy and disadvantaged sections of society, ensuring maximum welfare benefits reach every segment. He contrasted this with past governments, which waived loans for the rich while ignoring the poor. “For the first time in Punjab’s history, relief has reached the backward and weaker sections,” he said, attributing this to a budget crafted for the common man’s welfare. He added that every penny of the public exchequer is being spent on public good.
The Chief Minister underscored education as the top priority, calling it the key to success for all and vowing to leave no effort unspared in ensuring quality education for every youth. He assured that there is no shortage of funds to strengthen the education system. Mann noted that public welfare initiatives, rare during previous regimes, are now frequent, with new projects being dedicated to the people and jobs being created for the youth. He described this as a glimpse of “Rangla Punjab,” with the government sparing no effort to enhance public convenience.
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Mann announced that the ₹67.84 crore loan waiver has benefited approximately 4,800 families. The Punjab Scheduled Castes Land Development and Finance Corporation (PSCLDFC) has revised loans issued until March 31, 2020, providing crucial relief to the Scheduled Caste (SC) and differently-abled communities. This initiative will benefit a total of 4,727 borrowers, including 4,685 defaulters and 42 regular borrowers, with the full amount settled by the state government.
He revealed that ‘No Dues Certificates’ will be issued, and by April 30, 2025, the entire ₹67.84 crore—comprising ₹30.02 crore principal, ₹22.95 crore interest, and ₹14.87 crore penalty interest—will be reimbursed to PSCLDFC. Importantly, borrowers who previously benefited from loan waiver schemes will also be eligible, and no recovery actions will be initiated against them post-waiver, with their accounts considered fully settled as of the cutoff date.
Citing the 2011 census, Mann noted that the SC community constitutes 31.94% of Punjab’s population, with many members having taken loans from PSCLDFC for self-employment. However, some defaulted due to external circumstances like the death of the breadwinner, prolonged illness depleting savings, or lack of income sources. He termed recovering such loans unjust, justifying the waiver decision.
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Mann emphasized that this step restores dignity and enables beneficiaries to use freed financial resources for new ventures, while also empowering PSCLDFC to extend fresh loans to other eligible SC individuals. He described the scheme as more than just a waiver—it’s a restoration of honor, delivery of justice, and an opportunity for a new beginning. “This has opened a new chapter of respect and dignified life for families burdened by debt for decades,” he said.
The Chief Minister asserted that the AAP government has transformed Dr. Ambedkar’s dreams into reality, ensuring equality and enhanced rights rather than exploitation. Unlike past governments that treated the SC community as a vote bank, AAP understands their struggles and consistently provides equality, rights, and respect.
The event was attended by Cabinet Ministers Harpal Singh Cheema, Dr. Baljit Kaur, Harbhajan Singh ETO, Lal Chand Kataruchak, and Kuldeep Singh Dhaliwal, among other dignitaries.
