Rs 69,355 crores of debt that’s killing Punjab farmers

February 16, 2016 0 Comments

Patiala, Feb 12: The figure of Rs 70,000 crore cropped up frequently in 2015. This was the total amount that mutual fund firms invested in equity markets. This was also the amount that India offered to pay Russia to acquire anti-ballistic missile systems in what is considered the biggest defence deal between the two countries. Also, the Union finance minister proposed an increase in investment in infrastructure by Rs 70,000 crore in 2015-16.

Now, consider the fact that the overall burden of debt on farmers of Punjab today is almost as big as what the entire country invested in mutual funds last year or the size of India’s biggest defence deal with Russia!

A survey by Punjabi University, Patiala, has put the outstanding debt on farmers of the state at a staggering Rs 69,355 crore.