The Rural Development and Panchayat Department, Punjab, today achieved 36 per cent increase in revenue in the first ever e-auction of cattle fairs which was conducted here.
The e-auction closed at Rs 50 crore against Rs 35.21 crore earned in last auction, an official release said.
All the participants took part in the auction through online system from different places in the state, it said.
There were a total of seven participants, who took part in the auction.
Extending congratulations to the auction committee and successful bidder, the Rural Development and Panchayats Minister Surjit Singh Rakhra said this auction has registered an increase of 36 per cent in the last year revenue of Rs 35.21 crore.
Rakhra said there were 42 mandis, where cattle fairs would be conducted by the successful bidder.
He informed that this auction will be valid from June 1, 2014 to March 31, 2015. He said Rs 38.52 crore was fixed as reserve price for the auction.
