Cash loan limit of Rs 36,999 crore approved for purchase of paddy Pipa News

Cash loan limit of Rs 36,999 crore approved for purchase of paddy

Chandigarh- The Reserve Bank of India today released the first installment of Cash Credit Limit (CCL) of Rs 36,999 crore for October, 2022 for the upcoming paddy procurement season and after utilization of this amount, Rs 7,500 for the month of November, 2022. Expected to release Rs.

Sharing these details, the Chief Minister said that early approval of the cash credit limit will ensure timely preparations for the upcoming paddy procurement season and facilitate direct payments into farmers’ accounts from October 1.

The Chief Minister further said that the saffron season is the first paddy procurement season of the AAP government and therefore he had issued instructions to the Food, Civil Supplies and Consumer Affairs Department in May itself to make advance planning in this regard. He said that as a result of this, the government has introduced the latest IT. Government policies related to procurement of milling, transport, labor and stock goods have been completely changed to make the process completely transparent and efficient by using technologies.

Taking a dig at the Congress, the Chief Minister said that during his bad rule, the state government failed to get the cash credit limit on time before the start of the paddy procurement season four times. Consequently, in these four years, farmers had to wait for weeks at first for their hard-cultivated crops to be paid.

The Chief Minister further said that the government is committed to buy every grain of paddy produced by the farmers of Punjab. He said that Punjab has always been a pioneer in ensuring national food security and the state will continue this tradition in the future.

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