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Publish Date : 04-Apr-2015

The Reserve Bank of India has permitted a cash credit limit of Rs. 14,640 crore for the ensuing procurement of the food grains in Punjab. Stating that the sanctioning of the cash credit limit has set in motion the procurement process for Rabi marketing season 2015, the spokesperson said that the purchase was to start from April 1 however because of inclement weather conditions and with another spell of unseasonal rains likely anytime, the procurement could be postponed and is expected to occur around April 15.

The Punjab Government said that the first instalment of the cash credit limit was released by the Finance Minister after State Food and Supplies Minister Adaish Pratap Singh Kairon got it cleared. The official said that more funds would be released as and when the procurement during the Rabi marketing season would begin. The State Government for its part has made arrangements for procuring 125 lakh metric tonnes of wheat.

Mr. Kairon had in addition met Union Consumer Affairs, Food and Public Distribution Minister Ram Vilas Paswan in Chandigarh and sought a special financial package for Punjab farmers who had suffered loss of crop due to recent rains and hail storms. The spokesperson said that Mr. Paswan had assured that the Centre would stand firmly with the farmers of the wheat bowl of the country in their hour of crisis. The Union Minister had in addition guaranteed that quality and colour norms related to procurement of wheat would be relaxed after assessing the situation on arrival of wheat in the mandis.

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