Paddy bonus stirs Diwali market in Chhattisgarh

Chhattisgarh government’s decision to give bonus to the farmers against paddy procurement has stimulated the Diwali market in Chhattisgarh.

The Dhanteras market alone in the state transacted businesses worth about Rs 900 crore. According to Chhattisgarh Chamber of Commerce and Industry, the increase was about 15 per cent as compared to the last year’s transaction in the festive season.

Like other parts of the country, the newly introduced Goods and Services Tax (GST) and demonetization did not cast a shadow in the Dhanteras market. The market transacted business till past mid-night Tuesday on the opening day of five days’ festival of lights.

According to chamber officials, the pumping of Rs 2,100 crore in the rural economy in the state propelled the Diwali business in Chhattisgarh. The state government had announced to give a bonus of Rs 300 per quintal for the paddy it had procured from the farmers in the kharif marketing season 2016.

A special session of the state assembly was convened on September 22 to pass the supplementary budget in which the provision of Rs 2100 crore was made. The farmers had sold 6.9 million tonnes of paddy to the state government in the kharif marketing season 2016.

In all, 1.35 million farmers were benefitted. The state government launched a campaign to disburse the bonus to the farmers before Diwali festival. The farmers would be entitled to get the bonus next year also for selling paddy in the current kharif marketing season.

The chamber officials said a major part of the paddy bonus had come to the Diwali market even as the rural business had seen a big boost.