CASH COMPONENT OF CROP LOAN FOR COTTON FARMERS REVISED TO RS. 14000

CHANDIGARH, MAY 22:

The Cooperation Minister, Punjab, S. Sukhjinder Singh Randhawa, while taking an immediate note of the news item published in news paper on the issue of loan limit cut, sent a team of officers to District Bathinda to review the situation and to take immediate action.

Disclosing this here today, an official spokesman said that as per the report of the team, it was found that the farmers were stressing to advance them cash component of the loan as per Scale of Finance fixed for various crops for the year 2018-19. The cash component of the Crop Loan which is meant for sowing as well as post harvest expenses has been revised from Rs. 9700 per acre to Rs. 14000 per acre for Cotton Crops. The farmers in the area were stressing to release the entire amount in one go where as post harvest the expenses are required by the farmers in the month of August and September, 2018. Moreover, the re-finance limit of NABARD for the year 2018-19, through which majority of the crop loan is given to the farmers, has not been sanctioned by the NABARD as yet. The farmers are now being given the advancement from own available resource of the District Central Cooperative Banks (DCCB). In view of the these resources and to meet the immediate input requirements of each farmer, it was strategized by DCCB Bathinda to advance crop loan at least @ Rs. 10000 per farmer in cash to meet their instant requirements and to make adequate advancement to the farmers. Besides this, the entire demand of fertilizer, pesticides and seed etc. is being met separately.

The team sent by the government headed by Dr. S.K. Batish, Managing Director, Punjab State Cooperative Bank held meetings with Kissan Unions, Departmental Officers, Bank Officers and representatives of various Primary Agriculture Cooperative Societies and it was agreed by the all stakeholders to advance a sum of Rs.12000 per acre. However the Cooperation Minister intervened and ordered to further increase the above amount to Rs. 13000/- per acre. The representative of the Kissan Union expressed their pleasure over it and lifted the dharnas and thanked the Cooperation Minister.

The Minister assured that farmers who are attached with Cooperative Societies shall be cared by his department fully and will get the crop loan as per their requirement for which the government would make all out arrangements for getting the required limit sanctioned from NABARD.