 "Centre sanctions Rs 296 bn cash credit limit for Punjab's paddy procurement")
The Centre on Tuesday sanctioned a cash credit limit (CCL) of Rs 296.95 billion to Punjab for the procurement of paddy in the Kharif marketing season of 2018-19.
However, the Punjab government led by Chief Minister Captain Amarinder Singh had raised a demand of Rs 403 billion.
"The amount has been released by the RBI for procurement of paddy till October. The balance installment of Rs 106.04 billion would be released subsequently," an official spokesperson of the Punjab government said.
Singh had been pursuing the issue of early release of CCL to ensure a timely payment of the paddy farmers.
The Chief Minister, meanwhile, directed all state procurement agencies to take immediate steps to ensure prompt lifting of the procedure, followed by a timely release of payments to the farmers. He has also instructed to lift every single grain of the farmers' produce from the market and adhere to the prescribed norms of timely payment.
Singh also reiterated the state government's decision to facilitate smooth and hassle-free procurement in the Mandis across the state.
The state government has already made elaborate arrangements for procurement of the estimated 20 million Metric Tonne (MT) paddy expected to come to the Mandis this season, compared to 176.61 LMT which was procured during the last season.