Photo Soruce: Babushahi Bureau
Breaking: Punjab Govt waives Rs 68 crore loans for SC families, announces CM Mann
Harshabab Sidhu
Chandigarh, June 3, 2025
Chandigarh, June 3, 2025 –Punjab Chief Minister Bhagwant Mann, while addressing the media after the state cabinet meeting on Tuesday, announced a significant relief measure for Scheduled Caste (SC) families.
He stated that the government has decided to waive outstanding loans worth ₹68 crore taken by SC families, in line with the budget promise made by Finance Minister Harpal Cheema.
"All loans issued up to March 31, 2020, will be waived. These were various types of loans that the beneficiaries were unable to repay due to unavoidable circumstances," said Mann. "We have taken a compassionate decision to write off these debts."
The move will benefit 4,727 individuals across the state. The loans were provided by the Punjab Scheduled Castes Land Development and Finance Corporation, which has so far disbursed loans worth ₹847 crore to nearly 5.5 lakh people.
Sharing further details, Finance Minister Harpal Cheema said that of the ₹68 crore being waived, ₹30 crore was the principal amount, ₹22 crore was interest, and ₹15 crore was penal interest. "These dues had been pending for nearly 20 years," he said.
He added that despite the long-pending amount, nearly 80 percent of the total loans issued by the corporation had already been recovered.
Chief Minister Mann emphasized that the government remains committed to supporting economically weaker sections and ensuring that financial distress does not obstruct their development.