Bonanza for Punjab farmers: Rs 5,334 crore paid to 1.84 lakh beneficiaries, says minister | The Financial Express

Bonanza for Punjab farmers: Rs 5,334 crore paid to 1.84 lakh beneficiaries, says minister

Total MSP payments of Rs 25424.86 crore have bee released directly into the bank accounts of farmers till Saturday, and nearly 6.5 lakh farmers have benefited from the MSP so far, said the Punjab government.

Bonanza for Punjab farmers: Rs 5,334 crore paid to 1.84 lakh beneficiaries, says minister
The Punjab government said that almost the entire paddy has been procured and lifted in the Majha belt and its arrival is still going on in the Malwa belt. (Image: PTI)

Sticking to its commitment of purchasing every single grain produced with sweat and toil, Chief Minister Bhagwant Mann-led government in Punjab on Sunday said it has granted approval of making payment to farmers for procurements under the minimum support price, or MSP. 

The MSP payment of Rs 5,334.54 core was credited directly into the accounts of nearly 1.84 lakh farmers during the ongoing paddy procurement season in the state, Food Civil Supplies and Consumer Affairs Minister Lal Chand Kataruchak said on Sunday. 

Another tranche of the amount to the tune of Rs 1,500 crore has been approved for payment which would be released once the banks open on Monday, he said, adding that 144 lakh metric tonne of paddy has been procured during the ongoing season. 

Also Read | Punjab seeks easing of wheat quality norms as MSP purchases fall

According to the minister, total MSP payments to the tune of Rs 25,424.86 crore have already been released directly into the bank accounts of farmers till Saturday, and nearly 6.5 lakh farmers have benefited from MSP so far.

Food and Civil Supplies Principal Secretary Rahul Bhandari said that with the approval of Cash Credit Limit (CCL) for November, MSP payments continued seamlessly. 

He added that almost the entire paddy has been procured and lifted in the Majha belt and its arrival is still going on in the Malwa belt.  

According to the report received from districts, more than 98 per cent of the paddy procured before 72 hours has already been lifted, the government said in a statement.

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First published on: 07-11-2022 at 10:49 IST