West Bengal will get Rs 900-1000 crore out of the additional sum of Rs 21,000 crore sanctioned by the National Bank for Agriculture and Rural Development (NABARD) for helping cash-starved farmers, a top official said on Friday.
In the aftermath of demonetisation, the sanctioned amount aimed at ensuring cash at farmers' disposal in the Rabi sowing season.
"West Bengal's share is to the tune of Rs 900-1,000 crore," said NABARD Chief General Manager A.K. Raybarman.
"Efforts are under way to revive a system that will reduce the need for cash for buying farm inputs. If things go as planned, farmers will be able to buy farm products without having to make cash payments," he said on the sidelines at the CSR meet organised by business chamber CII.
"Instruments like pay order can be issued for 60-70 percent of farmers' credit limit that can be redeemed at the farm stores," he said adding that if the cash demand is lowered by 70 per cent, things will be a lot easier.
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