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Following the decision to provide fertilisers and other agriculture inputs in kind to farmers for the sowing of rabi crops, Punjab government today said growers across the state have lifted 90 per cent of Diammonium phosphate (DAP)-fertiliser from the Primary Cooperative Agriculture Societies (PCASs) worth Rs 500 crore.
The state government took this decision after realising the hardships faced by them after Reserve Bank of India's directive not allowing the Cooperative Banks to accept deposits of the demonetised notes of Rs 500 and Rs 1,000, a spokesperson of the Chief Minister's Office.
According to the spokesperson, urea would be required in other 15 days.
As many as 4.5 lakh metric tonne was available with PCASs against the target of 4.20 lakh MTs available up to November 30. Out of this, 2.5 lakh MTs have been lifted by the farmers.
The decision had benefited those farmers who were unable to repay the crop loans advanced by the Primary Cooperative Agriculture Societies (PCASs) during Kharif-2016 due to demonetisation and hardly had any outstanding overdue.
With this decision, the PCASs had provided fertilisers and other agri-inputs to the farmers against B-component of current rabi crop.
Pertinently, the Chief Minister had already taken up this issue with the Union Finance Minister Arun Jaitley to direct the Reserve Bank of India (RBI) to allow the District Central Cooperative Banks (DCCBs) to accept old denomination of currency notes for repayment of crop loans by the farmers.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)