TS govt has no notes for farmer scheme, to seek RBI help

Telangana |  Suryaa Desk  | Published : Tue, Jan 09, 2018, 12:43 PM

Hyderabad: The Telangana state government will seek the help of the Centre and the Reserve Bank of India to arrange sufficient currency notes to disburse Rs 8,000 per acre per year cash incentive to farmers in the backdrop of state facing severe currency shortage in districts for the past three months.

The government has decided to credit the first instalment of Rs 4,000 per acre for Kharif season in May and Rs 4,000 for Rabi in October. The government needs to credit the amount in the bank accounts of 71.75 lakh farmers. It requires over Rs 5,600 crore cash for disbursement in May alone.

However, all the districts in TS have been facing severe cash crunch for the past three months due to which the disbursal of Aasara pensions came to a halt.

The payments for farmers have also been halted. Though the government credited the amount in bank accounts for farmers after procuring paddy and other agriculture produce from them, the farmers could not withdraw the amount due to currency shortage.

The state government is worried that when Aasara pension of Rs 1,000 could not be disbursed to 35 lakh beneficiaries due to cash crunch, how can it disburse Rs 8,000 per acre for over 71 lakh farmers.

The issue was discussed at length in the Cabinet sub-committee meeting held at the Secretariat on Monday. It was decided to meet Union finance minister Arun Jaitely and RBI Governor seeking availability of sufficient cash in state for extending cash incentive to farmers.








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