Punjab Government Launches Crop Residue Management Loan Scheme through Cooperative Banks
Chandigarh, September 11 (WISHAVWARTA):- In a decisive move to tackle the issue of stubble burning and promote sustainable farming, the Punjab Government under the leadership of Chief Minister S. Bhagwant Singh Mann has launched the amended Crop Residue Management (CRM) Loan Scheme through cooperative banks across the state.
The scheme, designed to support farmers and cooperative societies in purchasing crop residue management machinery, is expected to play a key role in reducing seasonal air pollution while simultaneously creating new opportunities for rural communities. The initiative has been approved under the guidance of Financial Commissioner Cooperation Sumer Singh Gurjar and Registrar of Cooperative Societies Girish Dayalan ensuring wide participation from stakeholders in the agricultural sector.
The Key Features of the Scheme will be that Primary Agricultural Cooperative Societies (PACS) and Multi-Purpose Cooperative Societies (MPCS) will be eligible for 80% subsidy on machinery, up to a maximum of Rs 24 lakh.
The margin money requirement is fixed at 10% of the loan amount. The individual farmers be eligible for 50% subsidy on machinery and the money requirement is fixed at 25% of the loan amount.
This landmark decision will not only facilitate easy access to modern equipment but also ensures effective management of crop residue, a critical factor contributing to air pollution in North India. The Punjab Government is also encouraging the use of crop residue in bio-energy plants, thereby promoting cleaner energy generation and boosting the state’s green economy.
Chief Minister reaffirmed his government’s commitment to environmental sustainability, farmer welfare, and strengthening the cooperative movement in Punjab. He emphasized that the scheme will empower farmers while addressing the environmental challenges posed by stubble burning.
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