Coop banks offer 80% subsidy on loans to farmers for buying straw mgmt equipment

With an aim to curb farm fires, the State Cooperative Banks have launched the Crop Residue Management Loan Scheme.

Under the scheme, primary Agriculture Cooperative Societies and other entities can avail 80 per cent subsidy on the purchase of farm equipment under the Common Hiring Centre (CHC) scheme. Progressive farmers will be entitled to 50 per cent subsidy on the purchase of farm implements for crop residue management, including balers and super seeders.

Fighting pollution

• Primary Agriculture Cooperative Societies and other entities can get 80 per cent subsidy on the purchase of farm equipment under the Common Hiring Centre (CHC) scheme
• Progressive farmers will get 50 per cent subsidy on the purchase of farm implements for crop residue management, including balers and super seeders
• The repayment period of the loan will be five years and it will be repayable in 10 half-yearly instalments (June 30 and January 31) annually

Three fresh cases of farm fire

• The incidents of stubble burning remained in a single digit for the fourth consecutive day, with just three cases reported on Sunday.
• Of these, one case each was captured in Patiala, SAS Nagar and Fatehgarh Sahib. On the same day in 2022, 85 cases were recorded, while the number was 91 in 2023.
• The state had witnessed 26 cases of paddy straw burning on October 1, 16 on October 2, eight on October 3, nine on October 4 and five on October 5
• Punjab has seen 196 cases this paddy season from September 15 to October 6

The repayment period of the loan will be five years. It will be repayable in 10 half-yearly instalments (June 30 and January 31) annually.

CM Bhagwant Mann said the aim was to make rural credit easily available to farmers for purchasing machinery for crop residue management so as to check environmental pollution caused due to burning of paddy straw.

He said the scheme had been introduced via the State Cooperative Bank in Chandigarh and 802 branches of district cooperative banks. Mann said the farmers could avail the benefits of the scheme through a simple and easy procedure. The scheme would also be instrumental in encouraging farmers to opt for the management of crop residue.

“The thrust is on reducing the pollution generated due to stubble burning and to encourage industry-farmer participation in the agri-residue supply chain to support bioenergy plants. The initiative will help in curbing pollution through the establishment of an agri-residue biomass supply chain from farmers to the bioenergy industry,” he said. Power generation units, compressed biogas (CBG) plants and 2G ethanol factories could strengthen their feedstock supply chain and benefit the biofuel industry as a whole.

The CM said the supply chain would be established through cluster-based approach in the vicinity of various industries utilising paddy straw. The supply chain beneficiaries will collect, densify and store paddy straw at desired locations and make it available to various users or industries as per requirement.