Government Sanctions Rs 26,707 crore to Punjab for Procurement of Paddy

Central Government on 9^th October 2019 has approved Cash Credit Limit (CCL) amount of Rs 26,707.5 crore for paddy procurement in the Kharif marketing season 2019-20 for the month of October.

An official government spokesperson while disclosing this said that the amount has been released by the Reserve Bank of India towards credit limit till the end of October 2019.

It must be noted that Punjab Chief Minister, Captain Amarinder Singh, had been personally pursuing the matter of early release of CCL with Centre to guarantee timely payment to growers against their crop.

Showing satisfaction at the speed of procurement, Capt. Singh asked the Food Minister to ensure quick lifting of the produce & release of payments to cultivators within the stipulated timeframe.

So far, 3, 26,839 MTs of paddy has been procured by State procurement agencies - with PUNGRAIN buying 1, 27,575 MTs, MARKFED 80025 MTs, PUNSUP 48387 MTs & PSWC 38116 MTs. FCI has also purchased 5627 MTs.

Punjab CM has reiterated his government’s commitment to facilitate smooth & hassle-free procurement in the market across the state.

The spokesperson told that with around 29.20 Lakh hectares of area under paddy cultivation, the state is targeting procurement of 170 Lakh Metric Tonnes in the current season that began this month.

The spokesperson added that proper arrangements have been made to provide hassle-free procurement experience to growers bringing their produce to the Mandis. The Punjab Mandi Board has already informed 1734 Purchase Centers for seamless procurement of paddy.

In the previous Kharif marketing season 2018-19 - 170.18 LMT paddy was procured, out of which 169.10 LMT paddy was procured by Government agencies whereas traders or millers procured only 1.08 LMT. In 2019-20 season, State Agencies will procure 161.50 LMT paddy while FCI will procure 8.50 LMT paddy.