With bumper wheat crop, Punjab farmers rich by Rs 14,110 crore | business | Hindustan Times
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With bumper wheat crop, Punjab farmers rich by Rs 14,110 crore

business Updated: May 11, 2012 22:00 IST

IANS
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Having achieved a record wheat crop of over 120 lakh tonnes this season, Punjab farmers have become richer by Rs.14,110 crore.


"Punjab farmers are richer by Rs.14,110 crore as the state has created new record of 120 lakh tonnes of wheat procurement. This is all due to the hard work of the state peasantry and favourable weather," a state government spokesman said in Chandigarh.

"The state government has mobilized government machinery to ensure hassle-free procurement and make payment of the produce to the farmers within 48 hours of lifting of their produce from the mandis," he added.

Sangrur district in the Malwa region (south-west Punjab) led in wheat procurement with farmers here getting nearly Rs.1,482 crore. Ludhiana and Patiala districts were second and third, respectively, in wheat procurement with farmers there getting nearly Rs.1,269 crore and Rs. 1,268 crore, respectively.

The Reserve Bank of India (RBI) releases money to the state government for the procurement of wheat and paddy twice every year. The procurement of wheat is done in April-May while paddy procurement is done October-December.