The state finance department released the amount on the the directions of Punjab Chief Minister Captain Amarinder Singh.
The compensation amount would also be distributed among the dependents of martyrs and disabled soldiers of the 1962 and 1965 wars, a government spokesperson said.
The move would provide much-needed relief to 125 families who had been fighting grant of compensation for the last 41 years, ever since the government discontinued its policy of allotting 10 acres land to the family of martyrs in 1976, he said.
The compensation is being given in lieu of the land and according to the decision taken by the Chief Minister, each family would receive a compensation of Rs 50 lakh, to be paid in three installments of Rs 20 lakh and two of Rs 15 lakh each.
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The spokesperson said that the policy change will be applicable to dependents of martyred soldiers, besides permanently disabled soldiers of the 1962 Indo-China war, and the Indo-Pak wars of 1965 and 1971.
Reiterating his government's firm commitment to ensuring the welfare of the defence personnel, Singh has already ordered setting up of a special ex-serviceman cell in the chief minister office, under his supervision, to address their issues on top priority.
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