Government to take loan of Rs Rs 1,552cr for MSP paddy | Ranchi News


Ranchi: The Jharkhand government has decided to take a loan of 1,552 rupees from two PSU banks to procure paddy from farmers in the state this Kharif season. The state cabinet on Thursday approved a proposal in this regard from the Department of Food, Public Distribution and Consumption.
The loan amount – Rs 776 crore each – will be drawn from State Bank of India and Bank of India during the current fiscal year. The government aims to procure eight lakh tonnes of paddy from nearly two lakh farmers under the minimum support price (MSP) scheme.
Normal paddy will be purchased at Rs 2,050 per quintal while grade A paddy will be purchased at Rs 2,070 per quintal, Cabinet Secretary Vandana Dadel said after the meeting.
Food and Civilian Supplies Minister Rameshwar Oraon, who also holds the finance portfolio, did not respond to TOI’s question as to why the government needed a loan for this purpose.
In another decision, the ministerial council approved a proposal to scrap its own Kuber integrated financial management system and switch to the national automatic clearinghouse for direct cash flow profit transfers. “The existing system posed barriers to making bulk payments,” said Dadel.
The cabinet also approved a proposal from the state’s Department of Mines and Geology to extend the lease to Hindustan Copper Limited for an additional 20 years to mine over 388.68 hectares of land at Surda Mauja in Musabani in the district of East Singhbhum. The extension of the mining lease had been pending for two years.
The cabinet gave the green light to several road extension and strengthening projects in Deoghar, Dhanbad, Bokaro, Seraikela-Kharsawan districts for a net worth of Rs 418 crore. He also granted a proposal to allocate Rs 4 crore to 14 colleges for their holistic development. A total of 21 proposals were approved by the cabinet at Thursday’s meeting.


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