You are here: Home » Economy & Policy » News
Business Standard

RBI clears over Rs 21,000 cr towards CCL for wheat procurement in Punjab

RBI on Monday cleared a sum of Rs 21,658.73 crore towards Cash Credit Limit (CCL) up to end April-2021 for the procurement of wheat in Punjab during the ensuing rabi marketing season.

Topics
Reserve Bank of India | wheat procurement

Press Trust of India  |  Chandigarh 

A farmer harvests wheat crop at a field during a nationwide lockdown in the wake of coronavirus pandemic, Amritsar. Photo: PTI

The (RBI) on Monday cleared a sum of Rs 21,658.73 crore towards Cash Credit Limit (CCL) up to end April-2021 for the procurement of wheat in Punjab during the ensuing rabi marketing season.

With this, the bulk of the CCL sought by the state government for the purchase of 105.60 lakh tonnes of wheat for this season has been released by the central bank, an official statement said here.

The release of the CCL would facilitate the state government in making timely payments to farmers against purchases of food grains in the current season, which would begin from April 10 and culminate on May 31, the statement said.

The central government has fixed the minimum support price (MSP) of wheat at Rs 1,975 per quintal, hiking it by Rs 50 from last year's Rs 1,925 per quintal.

Meanwhile, Chief Minister Amarinder Singh directed the Food and Civil Supplies Department to ensure that farmers do not face any hassles in the procurement of their produce especially amid COVID-19 pandemic.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Mon, April 05 2021. 22:31 IST
RECOMMENDED FOR YOU
.