Five state-run procurement agencies have purchased 26,174 lakh MT paddy in the state so far this season, the Punjab government said today.
With the Reserve Bank of India releasing cash credit limit amounting to Rs 33,800.22 crore for procurement, the state government has paid Rs 27,409 crore to farmers and 'arthiyas' (commission agents) till November 26, the state cabinet was informed today.
The Punjab Cabinet, under the chairmanship of Chief Minister Amarinder Singh, today reviewed the progress of paddy procurement in the state in the current season, which began on October 1 and will end on December 15.
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A detailed presentation was made to apprise the cabinet about the progress of ongoing paddy procurement.
The cabinet expressed satisfaction over the procurement process, an official spokesperson said.
The cabinet meeting was informed that as of November, 26,174 lakh MT Paddy had been procured by five state procurement agencies -- PUNGRAIN, MARKFED, PUNSUP, PSWC, PAFC and FCI, selected for procurement on MSP as per specification laid down by the Central government.
The Centre has fixed Rs 1550 for common variety and Rs 1590 for 'A' grade paddy per quintal as minimum support price during Kharif Marketing season 2017-18.
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