Chandigarh, Dec 10 (PTI) Haryana chief minister Nayab Singh Saini on Wednesday announced a One-Time Settlement (OTS) scheme for farmers, clearing the outstanding overdue loans of the state’s Primary Agricultural Cooperative Societies (PACS).
The scheme will remain in effect until March 31, 2026.
As the finance minister, he had proposed a scheme for the settlement of overdue loans owed by farmers to PACS during the 2025-26 budget session, and today the government has formally launched this initiative, Saini said.
Under the scheme, if farmers, who have taken loans from PACS, deposit the principal amount of their loans into the societies’ accounts, their entire outstanding interest will be waived.
This interest waiver amounts to Rs 2,266 crore, benefiting 6,81,182 farmers and poor labourers across the state.
The chief minister further informed that the scheme applies to all indebted farmers who have taken crop loans or shop loans that became overdue as of September 30, 2024.
Additionally, families of 2.25 lakh deceased farmers will also benefit from this. If the legal heirs deposit the principal amount, they will receive an interest waiver totalling approximately Rs 900 crore.
He added that after depositing the principal amount under the scheme, farmers will also be eligible to obtain new loans in three instalments for their next crop, based on their requirements, starting one month after settlement. PTI CHS MPL MPL
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