RBI clears Rs. 24,773.11 crore CCL for Punjab for Rabi marketing season-20221 min read
Chandigarh, March 28, 2022: With the strenuous efforts of Aam Adami Party (AAP) government led by Chief Minister Bhagwant Mann for seeking Cash Credit Limit (CCL) from Centre before the commencement of wheat procurement season, the Reserve Bank of India (RBI) on Monday cleared a sum of Rs. 24,773.11 crore towards CCL upto end April-2022 for the procurement of Wheat in Punjab during the ensuing Rabi Marketing Season (RMS).
Meanwhile, Bhagwant Mann also expressed gratitude to the Centre for timely release of CCL, which would go a long way in ensuring seamless procurement of Wheat during the current marketing season.
With this, the bulk of the CCL sought by the state government for the purchase of 132 lakh tonnes of Wheat for this season has been released by the central bank.
Bhagwant Mann directed the Food & Civil Supplies department to ensure smooth and hassle free procurement of every single grain of the farmers besides making payment to them of their produce from the very first day of procurement i.e. April 1, 2022.
Notably, the procurement of wheat would begin from April 1 and culminate on May 31 during the current RMS. The Central government has fixed the Minimum Support Price (MSP) of wheat at Rs.2015 per quintal, hiking it by Rs.40 from last year’s Rs. 1975 per quintal.