Chandigarh,2 July 2025: Punjab Cabinet Minister Dr. Baljit Kaur distributed loan waiver certificates worth approximately ₹8.72 crore to 505 families belonging to the Scheduled Caste (SC) community. On this occasion, under the “Ashirwad Scheme”, approval letters amounting to a total of ₹71.40 lakh (i.e., ₹51,000 per beneficiary) were also handed over to 140 beneficiaries.
Speaking at the event, Dr. Baljit Kaur said that the Punjab government is supporting the needy and underprivileged sections of society. The government aims to ensure that every section of society directly benefits from welfare schemes. She added that for the first time in Punjab’s history, such relief has been extended to the backward and weaker sections. This has been made possible because, for the first time, the state’s budget has been dedicated to the welfare of the common people. Every rupee of the government treasury is being spent in the public interest.
This loan waiver applies to all loans distributed by the Punjab Scheduled Castes Land Development & Finance Corporation (PSCFC), bringing significant relief to borrowers from the SC and differently-abled communities. She informed that the waiver covers all loans disbursed by PSCFC up to 31 March 2020. The government has already issued ‘No Dues’ certificates to the beneficiaries. The state government will repay the full amount — including principal, interest, and penal interest — to PSCFC by 30 April 2025. After the loan waiver, no recovery action will be taken against the borrowers under the corporation’s rules.
Summary:
Punjab reinstates Old Pension Scheme for 2,500 employees and approves ₹68 crore loan waiver for 4,727 SC and disabled families, easing financial burdens.