Centre releases £1.79 bn for wheat procurement in Punjab

CHANDIGARH: The Central Government has released £1.79 billion for Cash Credit Limit for Punjab's Rabi procurement. The Union Finance Ministry and the Reserve Bank of India, in separate letters to the Punjab Principal Secretary, said the Centre has decided to release the CCL immediately in view of the urgent need to procure wheat. The money is used to pay farmers for the crops the government agencies procure twice annually, wheat in April-May and paddy in October-November. Wheat procurement in Punjab began on April 1.