The Centre Tuesday sanctioned a cash credit limit (CCL) of Rs 29,695.40 crore to the state for procurement of paddy in the Kharif marketing season 2018-19.
Punjab had raised a demand of Rs 40,300 crore for this season.
Disclosing this here, an official spokesperson said the amount has been released by the RBI for procurement of paddy till October.
The balance installment of Rs 10,604.60 crore would be released subsequently, he said.
The CM has, meanwhile, directed all the state procurement agencies to take immediate steps to ensure prompt lifting of the produce, followed by timely release of payments to farmers.
He has reiterated his government's commitment to facilitating smooth and hassle-free procurement in the Mandis across the state.
The state government has already made elaborate arrangements for procurement of the estimated 200 lakh LMT paddy expected to come to the Mandis this season.
The chief minister has issued strict instructions to lift every single grain of the farmers' produce from the market and adhere to the prescribed norms of timely payment.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)