The Punjab government today said farmers will get payment for their harvest in electronic mode as per RBI guidelines and Rs 4,000 crore would be disbursed to them in 24 hours.
"With the personal intervention of Punjab Chief Minister Parkash Singh Badal, farmers of the state will get a major reprieve as the payments of their harvest will flow electronically to them from today as per new RBI conditions," an official release said.
Meanwhile, in a statement, the Chief Minister said that the state government has made financial arrangements for Cash Credit Limit and Rs 14,640 crore has already been received.
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This amount was being electronically disbursed to the accounts of the commission agents for making further payments to farmers for their produce.
He said that an amount of Rs 4,000 crore would be credited to farmers in 24 hours.
Reiterating that the state government would lift every grain from the market, the Chief Minister said that all dues of farmers would be cleared within 2-3 days.
He said that total wheat arrivals were expected to be 110 to 125 lakh MTs and the state agencies has already procured more than 50 lakh MT of wheat.
Badal further said that the state government had requested the Centre that procurement of wheat should be allowed without any value cut, because inclement weather and untimely rains were not in the hands of the farmers.
The Deputy Chief Minister said that based on the state's request, the central government relaxed specifications for wheat procurement by state agencies by imposing a value cut of Rs 10.88 per quintal.
However, the Chief Minister said that the state has taken upon itself the responsibility to compensate the farmers in view of value cuts imposed by Government of India.
The Chief Minster further said that 11 Secretary level officers and also the Managing Directors of the procuring agencies have been deputed in the districts to oversee the wheat procurement operations.
