Cash component of crop loan for cotton farmers revised to Rs 14,000

Punjab Cooperation Minister Sukhjinder Singh Randhawa on Tuesday deputed a team of officers to review the situation in Bathinda district regarding of loan limit cut and initiate immediate action.

Taking serious note of the reports on the issue of loan limit cut, the Minister has sent a team to Bathinda District to take stick of the situation.

An official spokesperson 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 9,700 per acre to Rs 14,000 per acre for cotton crops,” spokesperson said.

Spokesperson said that the farmers in the area were stressing to release the entire amount in one go whereas 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, added the spokesperson.

The farmers are now being given the advancement from own available resource of the District Central Cooperative Banks (DCCB), added the spokesperson.

In view of these resources and to meet immediate input requirements of each farmer, it was strategized by DCCB Bathinda to advance crop loan at least at the rate of Rs 10,000 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 Punjab State Cooperative Bank managing director Dr SK Batish, 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 12,000 per acre.

However, the Cooperation Minister intervened and ordered to further increase the above amount to Rs 13,000 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.