Approved Revival package of Rs.77.45 Cr to boost corporation revenue, employment, farmer’s economic state in NE

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New Delhi: The Cabinet Committee chaired by the Prime Minister Economic Affairs (CCEA), has approved a revival package of Rs.77.45 crore (Rs. 17 crores towards fund based support and Rs.60.45 crore towards non-fund based support) for the revival of North Eastern Regional Agricultural Marketing Corporation Limited (NERAMAC), a central Public Section Enterprises under the administrative control of Ministry of Development of North Eastern Regional (MDoNER).

The revival package implementation will ensure the remunerative price of their products to the farmers of NER and will help NERAMAC to implement various innovative plans namely providing better farming facilities, training to farmers in clusters, organic seeds, and fertilizer, post-harvesting facilities in order to promote the products of NE farmers in the world market through participation in events, registration of GI (Geographical Indications) products, etc.

Moreover, promoting FPOs and other growers, focusing on the bamboo plantation and bee-keeping, sales through e-commerce taking advantage of other Government of India schemes such as PM Kisan SAMPADA Yojana and Agriculture Infrastructure Fund under Aatma Nirbhar Bharat, Krishi Udaan, and Kisan Rail, tie-up with farmers and entrepreneurs who are involved in high-value organic crops, starting retail outlets under franchise concept under its own brands like “NE Fresh” and “ONE” (Organic North East) and through NAFED, TRIFED, etc. is also in the pipeline.

And with the implementation, the revenue of the Corporation will increase and overheads will reduce as a result of VRS and other cost-cutting measures and the Corporation will start making profits on a sustained basis and its dependency on the GoI loan will cease. Also, the employment will be generated both directly and indirectly in the farming sector, projects and events management sector, logistics, sorting and grading and value addition, entrepreneurship, and marketing, expecting that employment generation of approx. 33,000 persons.

And also the GI tagging and marketing of Organic Products of NER in other parts of the country as well as outside the country will eventually enhance the export of these products, improving the economic status of NER farmers.