Jammu, Nov 23 (PTI) The Jammu and Kashmir administrative council on Wednesday approved a proposal for advance payments to dealers of fair price shops under the National Food Security Act, officials said.

The move is expected to benefit dealers of over 4,600 fair price shops, they said.

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During a meeting chaired by Lieutenant Governor Manoj Sinha, the council cleared the proposal for advance payments to dealers on account of their margins on a monthly basis, the officials said.

The council approved advance payments of 75 per cent of the Centre's share on account of dealers' margins out of the Revolving Fund (Foodgrains) Account, pending the release of claims by the Union government, they added.

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The flow of funds from the Centre under the National Food Security Act is irregular and there has been persistent demand from dealers for payment of commission at Rs 180 per quintal.

The council's approval will ensure the payments are made in advance, benefitting 4,630 dealers across the Union Territory. The money will be recouped when the central share is released, the officials added.

Every year, the scheme will cost Rs 32.95 crore (Rs 32,95,05,998) but the amount will be recouped when central funds are received, they added.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)