TAD NewsDesk, New Delhi: The Reserve Bank of India cleared a sum of Rs 21,000 crore on Cash Credit Limit (CCL). It has been done for the wheat procurement in Punjab and up to April 2021 which is the most ensuing rabi season.
According to an official statement, With this, the bulk of the CCL NSE -0.76 % 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 CCL would help the state governments make timely payments to farmers
against purchases of food grains in the current season which begins from April 10 and ends on May 31.
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.
Moreover, Chief Minister Amarinder Singh directed the Food and Supplies Department to make the process smoother in the coming season for the farmers in the procurement of wheat.