RBI clears cash credit limit for wheat procurement in Punjab

  • IANS

    IANS | Chandigarh

    April 5, 2017 | 4:25 am
GDP

(Photo: Getty Images)

The Punjab government on April 4 said that the Reserve Bank of India (RBI) has cleared the Cash Credit Limit (CCL) for purchase of wheat crop.

“RBI had cleared the payment, which was expected to reach the states coffers latest by Wednesday,” an official spokesman said here.
Following Chief Minister Captain Amarinder Singhs personal meeting and subsequent telephonic conversations with Union Finance Minister Arun Jaitley, the CCL issue had been resolved with the central government, which had asked RBI to release the payment, the spokesman said.

The official said the Chief Minister had spoken to Jaitley thrice on the issue and there was no pending concern.

RBI holidays on April 1 and 2 had caused a slight delay but the funds were expected to come any moment now, he said.

“The state government has made all possible arrangements to ensure smooth and hassle-free procurement in the mandis”, he said.

The Chief Minister has already directed all Deputy Commissioners (DCs) to personally monitor the procurement process and arrangements have been made on a war-footing to streamline the process in all the 1,800 mandis of Punjab.

The Chief Minister had issued stringent orders to ensure that the farmers and 'arthiyas' (commission agents) do not face any problems in the mandis.

The state mandi board had been directed to provide all basic amenities and facilities in the mandis, in addition to smooth and timely payments, as well as complete transparency in the process, which the new government has decentralized to make it more structured and effective, he said.

Wheat procurement has started in the state from April 1.

The wheat procurement for the Rabi Marketing season 2017-18 has started with Punjab making arrangement for the procurement of 125 lakh metric tonnes of the crop.

The new Congress-led Punjab government is facing its first procurement season after coming to power. It has promised smooth and hassle-free procurement of the farmers' produce.

Amarinder had sought immediate authorization and release of Rs.20,683 crore CCL from the Centre for smooth and timely wheat procurement in the state.

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