Tuesday, October 19 2021

The Cabinet Committee on Economic Affairs (CCEA), chaired by the Prime Minister, approved a stimulus package of Rs77.45cr (Rs17cr towards fund-based support and Rs60.45cr towards unfounded support) for the relaunch of the North Eastern Regional Agricultural Marketing Corporation Limited (NERAMAC), a central section of state-owned enterprises under the administrative control of the Northeast Regional Development Ministry (MDoNER), GDP said in a statement on Wednesday.

Advantages:

With the implementation of the stimulus package, the remunerative price to NER farmers of their products will be ensured. The stimulus package will help NERAMAC to implement various innovative plans, namely to provide better agricultural facilities, training to cluster farmers, organic seeds and fertilizers, post-harvest facilities to promote the products of NE farmers in the global market through participation in events, registration of IG products, etc.

The company’s revenue will increase and overhead will decrease due to the VRS and other cost-cutting measures and the company will begin to earn profits on a sustained basis and its dependence on the GoI loan will cease.

Potential for job creation:

After the implementation of the relaunch of NERAMAC, jobs will be generated both directly and indirectly in the agricultural sector, the sector of project and event management, logistics, sorting and classification and added value. , entrepreneurship and marketing. Jobs are expected to be created for around 33,000 people.

Targets:

The stimulus package will help NERAMAC to implement various innovative plans, namely to provide better agricultural facilities, training to cluster farmers, organic seeds and fertilizers, post-harvest facilities to promote the products of NE farmers in the world market through participation in events, registration of GI Products (geographical indications), etc., promoting takeovers and other producers.

Apart from this, focusing on bamboo planting and beekeeping, sales through e-commerce taking advantage of other Indian government programs such as PM Kisan SAMPADA Yojana and Agriculture Infrastructure Fund under AatmaNirbhar Bharat, Krishi Udaan and Kisan Rail, are partnering with farmers and entrepreneurs involved in high value-added organic crops, starting outlets under franchise concept under their own brands such as “NE Fresh” and “ONE” (Organic North East ) and via NAFED, TRIFED, etc. are also in progress.

The implementation of the stimulus package will generate jobs both directly and indirectly in the agricultural sector, the project and event management sector, logistics, sorting and classification and added value, entrepreneurship. and marketing.

The GI labeling and marketing of organic NER products in other regions of the country as well as outside the country will strengthen the export of these products, which will improve the economic situation of NER farmers.


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