The Centre has sanctioned Cash Credit Limit (CCL) amount of Rs 26,707.5 crore for procurement of paddy in the Kharif marketing season 2019-20 for the month of October.
Disclosing this here, an official spokesperson said the amount has been released by the RBI towards credit limit till end of October 2019, PTI reported.
With 29.20 Lakh hectares of area under paddy cultivation, Punjab is targetting procurement of 170 Lakh Metric Tonnes in the ongoing season which began on first of this month, said the spokesperson.
As of today, a total of 3,26,839 MTs of paddy has been procured by state procurement agencies, with PUNGRAIN purchasing 1,27,575 MTs, followed by MARKFED (80025), PUNSUP (48387) and PSWC (38116). FCI has purchased 5627 MTs.