Centre approves setting up of 50 multi-product food irradiation units, grants for National Cooperative Development Corporation
The Cabinet also approved a Rs 1,000 crore budget for setting up 50 multi-product food irradiation units.
As per an official statement, the source of finance of Rs 2,000 crore (Rs 500 crore each year from Fiscal Year 2025-26 to 2028-29) grant to NCDC shall be through budgetary support from the Centre.
As per an official statement, 'On the basis of grant in aid of Rs 2,000 crore to NCDC from FY 2025-26 to FY 2028-29, NCDC will be able to raise Rs 20,000 crore from open market over a span of four years.
'These funds will be utilized by NCDC for granting loans to Cooperatives for setting up new projects/ expansion of plants and loans for meeting the working capital requirements.'
'Approximately 2.9 crore members of 13,288 Cooperative societies of various sectors like Dairy, Livestock, Fisheries, Sugar, Textile, Food Processing, Storage and Cold Storage; Labour and Women-led cooperatives across the country are likely to get benefitted,' it added.
On implementation strategy and targets of the decision, the statement said that the NCDC will be the executing agency for this scheme for the purpose of disbursement, follow-up, monitoring of implementation of the project, and recovery of loans disbursed out of the fund.
'NCDC will provide loans to cooperatives either through state government or directly, as per NCDC guidelines. Cooperatives, which are meeting the criteria of direct funding guidelines of NCDC would be considered for financial assistance directly against admissible security or state government guarantee,' the statement further said.
'NCDC will provide loans to cooperatives, long-term credit for setting up/ modernization/ technology upgradation/ expansion of project facilities for various sectors and working capital to run their businesses efficiently and profitably,' it said.
In a separate decision, the Cabinet also approved an additional outlay of Rs 1,920 crore for the ongoing 'Pradhan Mantri Kisan Sampada Yojana' (PMKSY) during the 15th Finance Commission Cycle (FCC) (2021-22 to 2025-26). With this move, the overall outlay of the PMKSY will be Rs 6,520 crore.
'Approval includes (i) Rs 1000 crore to support setting up of 50 Multi Product Food Irradiation Units under the component scheme-Integrated Cold Chain and Value Addition Infrastructure (ICCVAI) and 100 Food Testing Labs (FTLs) with NABL accreditation under the component scheme – Food Safety and Quality Assurance Infrastructure (FSQAI) of Pradhan Mantri Kisan Sampada Yojana (PMKSY), in alignment with the budget announcement and (ii) Rs 920 crore, for sanctioning projects under various component schemes of PMKSY during the 15th FCC,' as per an official statement released after the Cabinet meeting.
'The implementation of the proposed 50 multi-product food irradiation units is expected to create total preservation capacity ranging from 20 to 30 Lakh Metric Tonnes (LMT) per annum, based on the type of food products irradiated under these units,' it said.
'The setting up of the proposed 100 NABL-accredited food testing laboratories under private sector will lead to the development of advanced infrastructure for testing food sam
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Economic Times
13 minutes ago
- Economic Times
GHV Infra Projects bags Rs 2,645 cr worth contract from UAE entity
Agencies GHV Infra Projects GHV Infra Projects has bagged an EPC contract worth Rs 2,645 crore from Rana Exim FZ-LLC in the UAE for development of a smart manufacturing hub, the company announced on Saturday. The project is awarded to GHV Infra Projects for engineering, procurement, and construction (EPC) of Erisha Smart Manufacturing Hub consisting of Industrial and Commercial Buildings at Ras Al Khaimah Economic Zone (RAKEZ), UAE. The EPC contract is estimated to be completed within 24 months excluding 90 days of initial setup & mobilization period, the company said in a stock exchange filing. "With this order, the total order book of the company has risen to over Rs 7,000 crore and shall continue to strive few more selective project options in near term," GHV Group Chairman Jahid Vijapura said in a statement. Shares of GHV Infra Projects closed at Rs 1549.20 per unit on Friday 4:00 PM on BSE.
Economic Times
13 minutes ago
- Economic Times
Want to invest Rs 1 lakh when you are young? Here is Raamdeo Agrawal's Warren Buffett-style blueprint to compound wealth
Raamdeo Agrawal urges young investors to avoid rushing into markets without understanding value. Learning to identify price-value gaps and mastering patience are key, he says, citing Buffett's wisdom and his own early investing lessons. Tired of too many ads? Remove Ads At 30, pick a lane: Professional or Passive? Tired of too many ads? Remove Ads Everybody knows the price, nobody knows the value India and the U.S. Tired of too many ads? Remove Ads If you're 20 years old and sitting on Rs 1 lakh, Motilal Oswal co-founder Raamdeo Agrawal has one piece of advice: don't do anything till you understand it. That, he says, is among the best lessons he's learned from Warren Buffett, and it applies to both investing and a conversation on Groww's investor podcast released on YouTube, the Motilal Oswal Financial Services co-founder urged young investors to resist the pressure to act without clarity. Agrawal said most 20-year-olds underestimate how little they know about the market. 'At the age of 20, what you don't know is a lot of things… So when you see value–price gap, you will have a, what do you call, limited understanding of it.'He recalled his own investing debut, a hostel tip-off that turned into a three-bagger. 'I bought it 15 bucks, and in a year, two years' time, it became 45 bucks,' he said, noting he was around 22 at the time. 'Those kinds of breaks will happen.'Asked where Rs 1 lakh should go at 30, Agrawal said it depends on whether you want to master the game or outsource it.'If I want to make a career in investing… then you should go to the stock market and figure out what is the value, what is the price, what is the earnings growth, what is the RoE, what is the momentum. I mean, it's a full-time job, and it has become very competitive.'Otherwise, 'go and give your money to one of the fund managers and be happy with it.'Agrawal didn't hold back on what he sees as the pitfalls of post-COVID market behaviour. 'Out of 200 million demat accounts, 160 million is less than 5 years… they have no clue what they are buying and selling... (post COVID)… market is very impatient,' he stressed that understanding intrinsic value is the core skill. 'Everybody knows the price. Nobody knows the value. Once you master the formula to discover value, investing becomes simple.'And the real reward, he added, lies in spotting mispriced opportunity. 'Is the return gap between price and value… is it asymmetric? We are looking for asymmetric... Asymmetricity in the return — that's the excitement in the market.'Agrawal dismissed market timing as a flawed strategy. 'Not buying at the bottom is a crime if at all you are trying to time the market,' he said. 'By the time you muster the courage to enter, you've already missed 40% of the upmove.'He advised investors to look beyond narrative and into balance sheets. 'I go straight to 23 financial ratios,' he said. 'If two companies are equally profitable, but one collects its dues in 10 days while the other takes 90 days, the difference is huge.'Despite growing global uncertainty, Agrawal believes India is one of the only two countries in the world, alongside the United States, where macroeconomic growth consistently flows into long-term equity returns. 'There are 170 markets, but only these two allow for extrapolation of economic growth into stock performance,' he said.'India,' he said, 'is more predictable than the U.S.': Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
Mint
13 minutes ago
- Mint
BIG relief for parents? Delhi govt to move Bill to regulate private school fee hikes
Delhi government will table education bill to regulate fees hike by private schools in the upcoming Monsoon session, CM Rekha Gupta said on Saturday. The monsoon session of the Delhi Assembly will commence on August 4, and will continue for five days. According to the Cabinet-approved ordinance, passed on April 29, the bill imposes strict penalties on schools that hike fees arbitrarily. For a first offence, schools will face fines ranging from ₹ 1 lakh to ₹ 5 lakh, with repeat violations attracting penalties between ₹ 2 lakh and ₹ 10 lakh. If the school fails to refund within the specified time, the fine doubles after 20 days, triples after 40 days, and continues to increase with every 20-day delay. Repeated violations may lead to a ban on holding official positions in the school management and loss of the right to propose future fee revisions. On May 14, several students were denied entry into the premises of DPS Dwarka over non-payment of fees as angry parents protested outside the gates, Indian Express had reported. The Monsoon Session will be the third session of the Delhi Assembly under the Rekha Gupta-led government. The chief minister added that efforts are also underway to make the Delhi Secretariat paperless, as part of the government's broader digital and sustainable governance agenda. (This is a developing story. Keep checking for more updates)
