For the First Time, Farmers of Punjab Receiving Payments Directly into Their Bank Accounts Against Sale

For the First Time, Farmers of Punjab have started receiving payments directly into their bank accounts against sale of their Rabi crops. In last one week about Rs 202.69 crore has already transferred directly into Punjab farmers’ account.

In the ongoing Rabi Marketing Season (RMS) 2021-22, Government of India is continuing to procure Rabi crops at MSP from farmers as per existing Price Support Scheme.

The Government of India has plans to procure around 427 LMT wheat in the current RMS at MSP in the central pool.

Wheat procurement has picked up pace in the last week and is going on briskly in the procuring States & UTs of Punjab, Haryana, Uttar Pradesh, Chandigarh, Madhya Pradesh, Rajasthan and other States with purchase of over 121.7 LMT up to 18^th April 2021 against 5.23 LMT during corresponding period of last year.

Out of the total purchase of 121.7 LMT, major contribution has been made by Haryana- 44.8 LMT ( 36.8%), Punjab- 41.8 LMT (34.2%) and Madhya Pradesh -28.5 LMT( 23.4%) of total procurement as on 18^th April, 2021.

About 11.6 Lakh Wheat farmers have already been benefitted from the ongoing RMS procurement Operations with MSP value of Rs. 24,037.56 Crore. During last week a quantity of 92.47 LMT Wheat has been procured.

This year, a new chapter has been added in the history of public procurement when Haryana and Punjab also switched from indirect payment of MSP to direct online transfer of benefits to farmers’ bank account by all the procuring agencies as per direction of GOI, which is being rejoiced by the farmers of Punjab/Haryana as for the first time they are receiving direct benefits against sale of their hard toiled crops without any delay and cuts under“One Nation, One MSP, One DBT”.

Till 18^th April 2021, about Rs 202.69 crore in Punjab and about Rs 1417 crore in Haryana has been transferred directly into farmers’ account.