Centre Allocates Package of Rs 77.45 Cr for Revival of North Eastern Regional Agricultural Marketing Corporation Limited

The Cabinet Committee on Economic Affairs (CCEA), chaired by the Prime Minister has approved a revival package of Rs.77.45 crore (Rs. 17 crore towards fund based support and Rs.60.45 crore towards non-fund based support) for 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).

With the implementation of the revival package, remunerative price to the farmers of NER of their products will be ensured.

Revival package 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 products etc.

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 sustained basis and its dependency on GoI loan will cease.

Employment generation potential:

After the implementation of revival of NERAMAC, employment will be generated both directly and indirectly in farming sector, projects and events management sector, logistics, sorting and grading and value addition, entrepreneurship and marketing.  It is expected that employment will be generated for about 33,000 persons.

Targets:

Revival package 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., promoting FPOs and other growers.  Apart from this, focusing in 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 AatmaNirbhar 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.

Implementation of revival package will generate employment both directly and indirectly in farming sector, projects and events management sector, logistics, sorting & grading and value addition, entrepreneurship and marketing.

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