Chhattisgarh clears CSPTCL IPO, Rs 15,000 per acre farm aid

The Chhattisgarh Cabinet on Tuesday approved the listing of state-run Chhattisgarh State Power Transmission Company (CSPTCL) on the stock exchange through an Initial Public Offering (IPO) and announced financial assistance of Rs 15,000 per acre to encourage farmers to shift from paddy cultivation to alternative kharif crops, officials said.

The decisions were taken at a Cabinet meeting chaired by Chief Minister Vishnu Deo Sai at Mahanadi Mantralaya Bhawan in Nava Raipur Atal Nagar.

According to officials, the Cabinet’s approval for the listing of CSPTCL through an IPO is expected to provide citizens and investors with an opportunity to participate in the company’s growth journey while strengthening its financial capacity and transparency.

The decision was taken during the meeting chaired by Chief Minister Vishnu Deo Sai at the Mahanadi Mantralaya Bhawan in Nava Raipur Atal Nagar.

Officials said the proposed stock market listing is expected to improve CSPTCL’s financial capabilities and operational efficiency while enhancing transparency and corporate governance standards. The move is also aimed at enabling the power transmission utility to raise capital for future infrastructure development and expansion projects.

Detailed procedures related to the IPO are expected to be worked out in the coming months.

The Cabinet also approved a revised version of the Krishak Unnati Yojana for the 2026 kharif season. Under the modified programme, farmers who choose to cultivate alternative kharif crops instead of paddy will receive an incentive of Rs 15,000 per acre.

The revised scheme aims to encourage crop diversification and promote the cultivation of crops that may offer better sustainability, lower water consumption and improved income opportunities. Officials said the initiative forms part of the state’s broader agricultural strategy to promote balanced farming practices and reduce dependence on a single crop.

According to officials, the scheme is expected to strengthen the agricultural sector by encouraging farmers to move beyond paddy cultivation. The government believes crop diversification is important for improving long-term productivity and reducing risks associated with fluctuating paddy yields and market conditions.

Officials added that the initiative is also expected to support soil health while providing farmers with additional opportunities through alternative crop cultivation.

The Cabinet’s decisions reflect the state’s focus on both economic growth and agricultural development. While the proposed CSPTCL listing is intended to create investment opportunities and strengthen a key public utility, the revised farmer welfare scheme seeks to address challenges in the agriculture sector through targeted incentives and policy support.

The meeting chaired by Chief Minister Vishnu Deo Sai also considered several proposals related to governance, infrastructure and rural development.

Officials said the approved measures are aimed at boosting economic activity, strengthening public institutions and improving livelihoods across the state.

Further details regarding the implementation of the IPO process and the revised Krishak Unnati Yojana are expected to be announced by the government in the coming weeks.