To address the environmental challenges posed by paddy straw burning, Punjab Chief Minister Bhagwant Mann on Sunday announced the launch of a Crop Residue Management (CRM) loan scheme through State Cooperative Banks across the State. The initiative aimed at facilitating easy access to credit for farmers to purchase machinery necessary for effective crop residue management.   Emphasizing its primary objective, Mann said that it aimed at mitigating environmental pollution resulting from the widespread practice of burning paddy straw. The loan scheme is available at the State Cooperative Bank in Chandigarh and its 802 district branches, ensuring that farmers can benefit from it through a straightforward application process.   Mann pointed out that both Primary Agriculture Cooperative Societies (PACs) in villages and progressive farmers can avail themselves of this scheme. Under the Common Hiring Centre (CHC) initiative, these cooperative societies can receive an 80 percent subsidy for agricultural equipment purchases. Progressive farmers are entitled to a 50 percent subsidy for acquiring essential implements such as balers and super seeders aimed at effective crop residue management.   Expressing optimism that the scheme will significantly reduce environmental pollution caused by paddy straw burning, he encouraged the farmers to adopt better residue management practices, while urged all the farmers to take full advantage of the program.   Highlighting the schemes broader implications, Mann said that a key focus is to decrease pollution levels associated with stubble burning. Additionally, the government aims to foster greater collaboration between the agricultural sector and industry to create a sustainable agri-residue supply chain supporting bioenergy initiatives. This initiative will help prevent pollution through the establishment of an agri-residue biomass supply chain from farmers to the bioenergy industry, he added.   The Chief Minister noted that the supply chain would be developed using a cluster-based approach near industries that utilize paddy straw. Farmers involved in this initiative will be responsible for collecting, densifying, and storing paddy straw at designated locations, making it readily available to various users and industries as per their needs.   Regarding financial terms, Mann announced that the repayment period for loans would be five years, with repayments scheduled in 10 half-yearly installments due on June 30 and January 31 each year.

Stay updated with all the Chandigarh Latest News headlines here. For more exclusive & live news updates from all around India, stay connected with NYOOOZ.