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Chhattisgarh cabinet approves power utility IPO, offers aid for non-paddy crops

From Hindustan Times · () English

Translated from English, summarized and contextualized by DistantNews.

At a glance

News Named sources New plan
  • Chhattisgarh's cabinet approved an IPO for the state-run power transmission company.
  • Farmers shifting from paddy to other crops will receive ₹15,000 per acre in assistance.
  • The government also approved sending consent for a Direct Debit Mandate for electric buses in four cities.

The Chhattisgarh cabinet has approved the public listing of the state-run Chhattisgarh State Power Transmission Company (CSPTCL) through an Initial Public Offering (IPO). Officials stated this move aims to encourage farmers to diversify from paddy cultivation to alternative Kharif crops and strengthen the power company's financial capacity and transparency.

At a meeting chaired by Chief Minister Vishnu Deo Sai, the cabinet also greenlit a revamped Krishak Unnati Yojana for the upcoming kharif season. Under this updated scheme, farmers who cultivate pulses, oilseeds, maize, millets, or cotton, or who switch from paddy to other Kharif crops, will be eligible for input assistance of ₹15,000 per acre. This benefit will be contingent on registration via the Integrated Farmer Portal, Agristack enrolment, and Digital Crop Survey data.

The cabinet nod for CSPTCL's listing through an Initial Public Offering is expected to provide citizens and investors an opportunity to participate in the company's growth journey while strengthening its financial capacity and transparency.

— Government officialExplaining the rationale behind approving the power utility's IPO.

The government's objective with this crop diversification initiative is to increase farmers' income, reduce over-reliance on paddy, expand cultivation of alternative crops, and promote long-term agricultural sustainability and water conservation. Currently, farmers receive ₹3,100 per quintal for paddy, which includes the Minimum Support Price and state input assistance.

In other decisions, the cabinet approved transferring the yoga subject from the Social Welfare Department to the Medical Education Department for better coordination in education, training, and research. Additionally, the cabinet consented to a Direct Debit Mandate under the Payment Security Mechanism scheme. This facilitates the operation of 240 electric buses sanctioned for Raipur, Durg-Bhilai, Bilaspur, and Korba cities, aiming to provide eco-friendly and affordable public transport.

The decision aims to promote crop diversification, increase farmers' income, and reduce excessive dependence on paddy cultivation.

— Government officialDescribing the goals of the revamped agricultural assistance program.
DistantNews Editorial

Originally published by Hindustan Times in English. Translated, summarized, and contextualized by our editorial team with added local perspective. Read our editorial standards.

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