Punjab Gears Up for Paddy Procurement with Rs. 41,378 Crore Support

Punjab CM Bhagwant Mann reviews paddy procurement plans, committing to hassle-free process for 185 lakh metric tonnes. Rs. 41,378 crore CCL secured for the 2024-25 season. Farmers assured of smooth, immediate payments. First 750 rice millers to get 25% more paddy allocation.

Punjab Chief Minister Bhagwant Mann chaired a critical meeting on Sunday to review the state's paddy procurement plans. According to an official release, the state is set to procure 185 LMT paddy from farmers during the procurement season starting October 1.

Mann emphasized the state's readiness for the upcoming Khareef Marketing Season (KMS). Currently, 32 lakh hectares are under paddy cultivation. He noted that the Reserve Bank of India has already released a Cash Credit Limit of Rs. 41,378 crore for KMS 2024-25. The Government of India has fixed the Minimum Support Price (MSP) of Rs 2320 per quintal for grade 'A' paddy. State procurement agencies, along with FCI, will handle the procurement.

Comprehensive arrangements have been made to ensure smooth and hassle-free procurement. Mann highlighted that a mechanism has been put in place for on-the-spot payment to farmers directly into their bank accounts. Deputy Commissioners have been instructed to monitor the process closely to prevent any delays in lifting the paddy from mandis.

Furthermore, as a boost for rice millers, the first 750 millers who apply for custom milling for the 2024-25 season will be allotted 25% more paddy than their entitlement.

(With inputs from agencies.)