The Reserve Bank of India (RBI) has authorized a credit limit of Rs.10,053 crore to Haryana for the procurement of wheat this season, a state government official said on Monday.
The wheat procurement will begin April 1 but bulk stocks are expected to arrive after Baisakhi, the harvest festival, on April 13.
The entire stock would be purchased by agencies of the state government on behalf of the central government, a state food and supplies department spokesman said.
About 65 lakh tonnes of wheat is likely to be procured during the ensuing Rabi marketing season, he said.
"Keeping in view the untimely heavy rain and hailstorms which caused heavy loss to the standing wheat crop in the state, the procurement targets have been reduced from 75 lakh tonnes to 65 lakh tonnes this year," the spokesman said.
"The Haryana government has made elaborate arrangements for the smooth procurement of wheat. The food and supplies department will procure 33 percent wheat, whereas 40 percent wheat would be procured by Hafed, 15 percent by Haryana Warehousing Corporation, 10 percent by Haryana Agro Industries Corporation and two percent by Confed," he said.
The wheat will be procured at 376 centres across Haryana.