CM Mann’s Green Initiative: State Cooperative Banks Offer 80% Subsidy on Crop Residue Management Loans
- CM reiterates government’s commitment to crop residue management and prevention of stubble burning.
- Bhagwant Mann urges farmers to avail maximum benefits of the scheme.
- Move aimed at checking environmental pollution caused due to paddy straw burning.
Chandigarh, October 6:
In line with the Punjab government’s commitment to address the issue of paddy straw burning, the State Cooperative Banks have launched a Crop Residue Management loan scheme.
Chief Minister Bhagwant Singh Mann emphasized the scheme’s importance in providing easy access to rural credit for farmers to purchase machinery for proper crop residue management. The scheme aims to reduce environmental pollution caused by paddy straw burning.
The scheme has been introduced in the State Cooperative Bank in Chandigarh and 802 branches of District Cooperative Banks. Farmers can avail the benefits through a simple process.
Primary Agriculture Cooperative Societies (PACs) and progressive farmers can benefit from the scheme. PACs can avail an 80% subsidy on the purchase of agriculture equipment under the Common Hiring Centre (CHC) scheme. Progressive farmers are eligible for a 50% subsidy on the purchase of agriculture implements like balers and superseeders.
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The Chief Minister believes that the scheme will significantly reduce environmental pollution caused by paddy straw burning and encourage farmers to adopt crop residue management practices.
The scheme aims to establish an agri-residue biomass supply chain from farmers to bioenergy industries, supporting power generation units, compressed biogas (CBG) plants, and 2G ethanol factories.
The supply chain will be established through a cluster-based approach, with beneficiaries collecting, densifying, and storing paddy straw at desired locations. The stored straw will be made available to various users or industries as per their requirements.
The loan repayment period will be five years, with 10 half-yearly installments due on June 30 and January 31 annually.
The Chief Minister urged farmers to take advantage of this scheme, which aligns with the government’s efforts to promote the welfare of the farming community and reduce environmental pollution.
