New Delhi: The Cabinet Committee on Economic Affairs chaired by Prime Minister Narendra Modi on Wednesday approved a Rs 77.45 crore revival package for North Eastern Regional Agricultural Marketing Corporation Ltd (NERAMAC), a central public sector enterprise under the administrative control of the Ministry of Development of North Eastern Regional (MDoNER).
Of the total package, Rs 17 crore is towards fund based support and Rs 60.45 crore towards non-fund based support.
“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,” said a press release after CCEA meeting.
Revival of NERAMAC will help implement various innovative plans like providing better farming facilities, training to farmers in clusters, organic seeds and fertilizer, post harvesting facilities in order to promote the products of North-East farmers in the world market through participation in events, registration of GI products etc.
As per government estimate, revival of NERAMAC will generate both direct and indirect employment in the farming, logistics, projects management and other related sectors.
“It is expected that employment will be generated for about 33,000 persons,” said the statement.