Central bank nod for Rs 14,640-cr cash credit limit for Punjab

Meanwhile all arrangements have been made by the state government for smooth procurement of 12.5 million tonne of wheat

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BS Reporter Chandigarh
Last Updated : Apr 01 2015 | 10:13 PM IST
The Reserve Bank of India (RBI) on Wednesday sanctioned cash credit limit of Rs 14,640 crore for ensuing procurement of food grain in Punjab for the Rabi Marketing Season 2015.

Disclosing this here on Wednesday, a government spokesman said the procurement was to begin from April 1 but due to inclement weather conditions and forecast of another spell of unseasonal rains, the procurement could be delayed and is expected to take place around April 15. In pursuance of Food and Supplies Minister Adaish Pratap Singh Kairon, the finance minister released the first installment of the cash credit limit. He has also assured to release funds further as and when the procurement begins.

Meanwhile all arrangements have been made by the state government for smooth procurement of 12.5 million tonne of wheat. Kairon who met Ram Vilas Paswan, minister of consumer affairs, food and public distribution at Chandigarh last evening, put forth a demand of a special financial package for farmers of Punjab for the crop loss in the recent heavy rains and hail storms. Paswan assured relaxation of moisture and colour norms for procurement of wheat after assessing the situation on arrival of wheat in the mandis.

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First Published: Apr 01 2015 | 8:27 PM IST

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