Chandigarh, July 29
More than a decade after the Punjab Assembly came out with the Punjab Prohibition of Private Money Lending Act, 2007, to prohibit private money-lending, the Punjab and Haryana High Court today took judicial notice of the fact that marginal/small farmers were forced to raise loans from private lenders at exorbitant rates of interest despite the Act. A Division Bench issued instructions to safeguard their interest, including a scheme for reasonable compensation/family pension to kin of farmers who have committed suicide.
The Bench of Justice Rajiv Sharma and Justice Harinder Singh Sidhu asserted that MSP should be three times the cost of production and a sufficient number of warehouses must be built for farmers to store crops for subsequent sale. The preparation of “Apps” for every field was suggested to examine crop status for determining growth and also destruction by natural calamities.
Speaking for the Bench, Justice Sharma asked the RBI to evolve a scheme in consultation with banks, the state government and stakeholders on the manner of advancing agricultural loans, recovery and waiver following suicide by farmers.
The other directions included insurance scheme, including weather insurance, implementation of the Punjab Prohibition of Private Money Lending Act in letter and spirit and wide publicity after fixing MSP. It was also suggested that the Union Government and the state must provide legal status to MSP by enacting a legislation. — TNS
THE DIRECTIVES
- Sufficient number of warehouses must be built for farmers to store crops
- Consider implementing broader recommendations by National Commission on Farmers
- Ensure MSP at least three times above production cost
from The Tribune https://ift.tt/2SMuK8A
via Today’s News Headlines
No comments: