Chandigarh: Punjab Chief Minister Bhagwant Mann announced on Sunday that farmers can now access loans from state cooperative banks to purchase crop residue management machines. Mann mentioned that state cooperative banks in the state have initiated a loan scheme for crop residue management. He stated that the goal is to provide easy access to rural credit for farmers to buy machinery for crop residue management in order to prevent paddy straw burning.
Mann announced the introduction of the scheme in Chandigarh and 802 branches of the district cooperative banks, urging farmers to take advantage of its benefits. Primary Agriculture Cooperative Societies(PACs) and other entities are eligible for an 80 per cent subsidy on agricultural equipment purchases through the common hiring centre (CHC) scheme. Similarly, farmers can receive a 50 percent subsidy when buying agricultural equipment such as balers and superseeders for managing crop residue. He mentioned that the plan will play a key role in motivating farmers to choose crop residue management.
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