Finance Minister Nirmala Sitharaman announced a Rs 77.45 crore stimulus package that has been proposed for financial restructuring and injection of funds to the North Eastern Regional Agricultural Marketing Corporation (NERAMAC).
The company was established in 1982 to help farmers in the North East region obtain remunerative prices for agro-horticultural products. It aimed to improve agricultural, supply, processing and marketing infrastructure in the North East.
No less than 75 agricultural producer organizations and agricultural producer companies registered with NERAMAC. Also 13 GI crops from the North East region registered under it.
The government has prepared a business plan to give farmers 10-15% higher prices by bypassing middlemen and agents. The Center has also prepared a roadmap for capacity building, aggregation, marketing and technology.
As part of this recovery plan, the government has also proposed to set up a Northeast Center for organic cultivation, facilitating equity financing for entrepreneurs.
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