Max credit limit for crop loans hiked by Rs 3000 per acre, says Minister Randhawa


“The Punjab Government in a landmark decision has increased the Maximum Credit Limit (MCL) of the kind component (B-Component)of the crop loans advanced to the farmers by Rs. 3000 per acre so as to encourage them in better management of stubble instead of burning the same.”

This was disclosed here today by the Cooperation Minister, Punjab, S. Sukhjinder Singh Randhawa in a press communiqué.

The minister further said that the State Government is exhorting the farmers to go in for disposing off the stubble in the fields itself instead of burning it.

He also said that in this regard the Chief Minister, Punjab, Captain Amarinder Singh had placed a demand before the Union Government that the farmers be provided with the financial assistance in lieu of their not burning stubble but till today no help has been received.

S. Randhawa also added that the Cooperation Department’s decision to increase the MCL considering the ever increasing expenditure of the farmers would benefit about 7.50 lakh farmers.

He also added that out of the increased Rs. 3000 amount the farmers can use Rs. 2000 for the management of the stubble and the rest Rs. 1000 for diesel.

He also divulged that earlier the farmers got MCL to the tune of Rs. 9000 per acre for the crop loans out of which the amount of Rs. 2500 were usable for diesel needs and now the farmer can use Rs. 3500 for meeting the
diesel expenditure out of the Rs. 12000 per acre MCL.

The Cooperation Minister also added that he had given the orders for increasing the MCL to the Registrar, Cooperative Societies Mr. Vikas Garg after meeting the representatives of the farmers unions’ and the Primary Cooperative Agricultural Societies. The Registrar then held a meeting of the technical committee and decided to increase the MCL.

Back to top button