Punjab gets ₹28,262 cr cash credit for paddy procurement
Friday, 06/10/2017
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CHANDIGARH: The Centre on Thursday sanctioned a cash-credit limit (CCL) of ₹28,262.84 crore to the Punjab government for procurement of paddy in the kharif season 2017-18.
A spokesperson of the chief minister’s office (CMO) said the amount has been sanctioned for procurement of paddy in the current marketing season. The state government had asked for CCL of ₹33,250 crore and waiting for clearance from the Reserve Bank of India (RBI) for the past several days. It had also cleared the cash credit dues of ₹1,100 crore pertaining to the previous paddy crop.
The spokesperson said that chief minister Capt Amarinder Singh’s personal intervention in the matter facilitated the release of the CCL required to make timely payment to farmers for their crop. Reiterating his government’s commitment to ensure smooth and hassle-free procurement, the CM has also directed all the state procurement agencies to take immediate steps to payment to farmers in time.
The state agriculture department is expecting paddy arrival of 182 lakh tonne and the minimum support price is ₹1,590 per quintal.
