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Farmers to get crop payment directly in their account: FCI

Swati Sharma
Swati Sharma
Money
Money

The Food Corporation of India on Monday (08 March 2021) announced that crop payment would directly transfer to Farmer’s account from now. 

Until now, the payment was credited in the account of the commission agent [Arthiyas], who further transferred the money to the farmer’s account, keeping his 2.5% commission. The commission will credit to the agent’s account and the balance amount in the farmer’s account. That means no official loss will happen to the commission agent as well. This year, FCI would procure 130 lakh metric tons of wheat, for which it will pay over Rs 24000 crore to farmers. 

Nevertheless, farmers have to update their land records. Each farmer has to give his land area and estimation of crop yield in that area per season. So that FCI has an idea about the crop production in each state in a particular season. This will help complete the procurement of food grain, and payment would transfer to correct accounts. 

Punjab farmers and agents are not happy with the above announcement; they say that it is not feasible for a state like Punjab, as almost 40% of the land has been leased out by owners to other farmers. 

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