Punjab’s peasantry is reeling under a mounting debt burden of Rs 1.24 lakh crore, including Rs 1.04 lakh crore institutional loans and at least Rs 20,000 crore non-institutional debt, official data shows, media reports quote.
Commercial banks account for Rs 85,460 crore, pushing average liability per landholding close to Rs 10 lakh.
Experts warn the debt has risen fivefold in two decades, amid declining cooperative bank lending and tighter credit norms. Punjab Agricultural University and former agriculture officials have called for urgent, detailed studies to prevent the crisis from spiralling further.