The wheat will be procured at the minimum support price (MSP) of Rs 1,735 per quintal.
The procurement target is set higher than the 74.25 lakh quintal tonnes of wheat procured in the season last year.
The Agriculture Department has estimated the production of wheat at about 117.80 lakh tonnes this time.
Additional Chief Secretary, Food, Civil Supplies and Consumer Affairs Department Ram Niwas told media here on Monday that the Reserve Bank of India has made Rs 4,900 crore available for payment for the procurement of wheat.
He said that arrangements have been made in 383 grain markets for the wheat procurement.
Neighbouring Punjab has set a target of wheat procurement of 130 lakh tonnes.