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Punjab CM urges Sitharaman to expedite 26,064-crore CCL authorisation

By, Chandigarh
Apr 02, 2020 12:06 AM IST

Punjab chief minister Capt Amarinder Singh on Wednesday wrote to Union finance minister Nirmala Sitharaman seeking her personal intervention to direct the Reserve

Punjab chief minister Capt Amarinder Singh on Wednesday wrote to Union finance minister Nirmala Sitharaman seeking her personal intervention to direct the Reserve Bank of India (RBI) for expeditious authorisation of Cash Credit Limit (CCL) of 26,064 crore for the coming Rabi season.

In a letter to the finance minister, Amarinder said the immediate release of CCL would not only ensure smooth procurement of wheat crop but also relieve the farmers, already under stress.

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Amarinder apprised Sitharaman that the Punjab government had already submitted its proposal to the RBI for the CCL authorisation. The chief minister also informed Sitharaman that the state was facing unprecedented crisis because of the ongoing lockdown in view of Covid-19 pandemic and procurement of Rabi crop, which was due to begin on April 1, 2020, will now start on April 15. However, this will be possible only if the RBI issues authorisation against the state’s projection of estimated amount to procure 114.76 lakh metric tonne of wheat.

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