Cash credit limit of Rs.36999 crore sanctioned for purchase of paddy

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CHANDIGAR: The Reserve Bank of India has today sanctioned the first installment of cash credit limit for Rs. 36,999 Crore for the month of October 2022 for the upcoming paddy supply season. The balance amount of Rs. 7,500 crore for the month of November 2022 is expected to be released after the consumption of the first installment.

Sharing these details, the Chief Minister said the prompt sanctioning of the cash credit limit will ensure timely preparations for the upcoming paddy supply season and facilitate payments directly to farmers’ accounts from the 1st October itself, he said.

The Chief Minister added that the upcoming kharif season was the first paddy supply season for the AAP government and therefore he had given instructions to the Ministry of Food, Civil Supplies and Consumer Affairs in May even to start pre-planning. As a result, the government, through the use of latest computer technologies, has totally revamped the government policies relating to milling, transportation, labor and procurement of stock items with the aim of to make the process completely transparent and efficient, he said.

Addressing Congress, the Chief Minister said that during its mismanagement, the state government had on four occasions failed to secure the cash credit limit in time before the start of the season. paddy supply. As a result, during those four years, farmers had to wait weeks for payment for the sale of their hard-earned produce.

The Chief Minister added that the government is committed to buying every grain of paddy produced by the Punjab farmer. He added that Punjab has always been at the forefront of ensuring national food security and will continue to do so.

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