Cabinet approves revival of North Eastern Regional Agricultural Marketing Corporation Limited

Move will help ensuring remunerative price to the farmers of North Eastern Region for their products

The Cabinet Committee on Economic Affairs (CCEA), chaired by the Prime Minister 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).

Benefits:

With the implementation of the revival package, the 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 a sustained basis and its dependency on GoI loan will cease.

Employment generation potential:

After the implementation of the revival of NERAMAC, 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.  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 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 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 the 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.

Dislciamer : This is an official press release by PIB.