The Cabinet Committee on Economic Affairs (CCEA) on Wednesday approved a Rs 77.45 crore package for the revival of state-run North Eastern Regional Agricultural Marketing Corporation Limited (NERAMAC).
NERAMAC is a central public sector enterprise under the administrative control of the Ministry of Development of North Eastern Regional (MDoNER).
"CCEA, chaired by the Prime Minister has approved a revival package of Rs 77.45 crore for NERAMAC," Information and Broadcasting Minister Anurag Thakur said in a media briefing.
The revival package will help NERAMAC to implement various innovative plans like providing better farming facilities, training to farmers in clusters, organic seeds and fertiliser, post-harvesting facilities in order to promote the products of north east farmers in the world market, he said.
In a statement, the government said out of the total revival package, Rs 17 crore is towards fund-based support and Rs 60.45 crore is non-fund based support.
With the implementation of the revival package, the government said remunerative prices to farmers of the north eastern region of their products will be ensured.
GI (Geographical Indications) tagging and marketing of organic products of north eastern region in other parts of India and globe, will enhance the export of these products which will improve the economic status of farmers.
That apart, it will help increase revenue of the Corporation and reduce overheads as a result of VRS and other cost cutting measures.
The Corporation will start making profits on a sustained basis and its dependency on the central government loan will cease.
After the implementation of revival of NERAMAC, employment is expected to be generated to about 33,00 persons, it added.
(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)
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