In a bid to revitalize the situation of Punjab’s Agricultural Sector, Finance Minister Harpal Singh Cheema met Finance Minister Nirmala Sitharaman. Food and civil supplies minister Lal Chand Kataruchak, MP Vikramjit Singh Sahney and Punjab chief secretary KAP Sinha accompanied Cheema. The meeting came after challenges circling up the Rural Development Fund (RDF) and Market Development Fund (MDF) of Punjab.
Immediate Release of Funds for Agricultural Sector
The ministers of Punjab met the finance minister on Friday. The delegation called for the immediate release of INR 7000 crore in RDF and MDF payments. Minister Harpal Cheema stressed that these funds are vital for bringing reforms and maintenance of Punjab’s agricultural marketing infrastructure.
Why this Sudden Need of Funds?
Cheema addressed that Punjab operates a Decentralised procurement (DCP) system so RDF and MDF cannot be compared with other non-DCP states. Speaking to the media professionals, Harpal Singh underlines the immediate need to release the funds. He noted that the significant delay has already put Punjab’s agricultural infrastructure in jeopardy (risk).
He also noted that Punjab’s mandi infrastructure has developed significantly over the decades. Due to its extensive and well-established infrastructure, the state is required to charge a higher RDF and MDF compared to other states. The Punjab delegation urged the Central Government to prioritize the immediate release of these funds to prevent any disruption in the state’s agricultural development and ensure the smooth functioning of the procurement process.
Punjab Expecting a Positive Response
Cheema expressed that they are hoping for a positive response. He also said that a decision will come shortly. Furthermore, he emphasized the urgent need for financial support to sustain and maintain Punjab’s agricultural infrastructure. He stressed that timely release of the funds is crucial for the continuous development and upkeep of the state’s vital agricultural networks.
Role of RDF and MDF in Punjab’s Agricultural Sector
The Rural Development Fund (RDF) and Market Development Fund (MDF) are the two major funds, designed specially to support the state’s agricultural infrastructure. The major sectors covered by these funds are mandis (markets), procurement processes, and logistical networks. The funds help in the betterment of the state’s economy as well as country’s.
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Naina Jaggi is an author deeply rooted in Journalism, mainly writing on lifestyle, entertainment, travel, politics and financial markets. This diverse experience has allowed her to blend rich details with engaging narratives that capture the essence of various worlds. When she is not crafting tales, you’ll find her immersed in music and enjoying the company of dogs. She is also into K-dramas, thriller and horror movies that fuel her imagination, bringing the same spark to her stories.
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