Cabinet approves revival of North Eastern Regional Agricultural Marketing Corporation Limited (NERAMAC) | Daily Current Affairs 2021

Cabinet approves revival of North Eastern Regional Agricultural Marketing Corporation Limited (NERAMAC)

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NERAMAC

NERAMAC: The Cabinet Committee on Economic Affairs (CCEA) has approved a package of Rs 77.45 crore for the revival of state-run North Eastern Regional Agricultural Marketing Corporation Ltd (NERAMAC).

  • The decision was taken in the cabinet meeting, chaired by Prime Minister Narendra Modi here.

Key Points:

  • As per the Government, this move will help ensure a remunerative price to the farmers of the Northeast region for their products.
  • The package will also 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.
  • The implementation of the revival of NERAMAC is also expected to generate direct or indirect employment for about 33,000 persons.

About NERAMAC:

  • North Eastern Regional Agricultural Marketing Corporation Ltd (NERAMAC) is a central Public Section Enterprises under the administrative control of the Ministry of Development of North Eastern Regional (MDoNER).
  • It was incorporated in the year 1982 as a marketing organization in the field of the Agri-Horti sector of the North-eastern region.
  • It was set up to support farmers and producers of the North East for getting remunerative prices for their produce and thereby bridge the gap between the farmers and the market and also to enhance the agricultural, procurement, processing and marketing infrastructure of the Northeastern Region of India.
  • NERAMAC has continuously been making all efforts for the development of the farmers of the region and double their income by the end of 2022.

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