Home NEWS Punjab gets Rs 28,262 crore cash credit for paddy procurement

Punjab gets Rs 28,262 crore cash credit for paddy procurement

Chandigarh, October 6: The Centre on Thursday sanctioned cash credit limit (CCL) amount of Rs 28,262.84 crore for procurement of paddy in Punjab in the kharif marketing season. The move follows chief minister Amarinder Singh taking up the matter with Union finance minister Arun Jaitley recently.

According to sources, the state had sought Rs 33,000 crore as CCL from the Centre for the upcoming procurement season. There were also talks of the Centre planning to ask the state government to deposit Rs 1,000 crore to get sanction of the credit limit. The CCL sanction is needed to ensure timely payment to farmers against their crop.

The amount has been sanctioned for procurement of paddy in the current marketing season, which will last till the end of October, said a government spokesperson. Meanwhile, Amarinder has directed all state procurement agencies to take immediate steps to ensure timely payment to the farmers for their produce.

Arrangements are being made for smooth procurement of an estimated 182 lakh metric tonnes of paddy this season and the government wants to adhere to the 48-hour deadline for lifting of paddy and payment to farmers for their crop.

In a related development, the Cotton Corporation of India (CCI) has assured the state government that it will start procurement of cotton crop in the state within a week. According to an official spokesperson, the assurance was given by CCIofficials to the additional chief secretary (development) during a joint meeting held here on Wednesday between officials of the CCI, agriculture department and Punjab Mandi Board.

News Source: https://timesofindia.indiatimes.com



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