The Hindu : National : Foodgrains target to be downscaled

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Sunday, Jul 10, 2005

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Foodgrains target to be downscaled

Gargi Parsai

NEW DELHI: The Central Government has decided to downscale the target of foodgrains production for 2005-06 to 215 million tonnes, Minister of State for Agriculture Kantilal Bhuria said here on Saturday.

Speaking to mediapersons after a Board meeting of the National Cooperative Development Corporation (NCDC), of which he is president, the Minister said that in 2004-05, the foodgrains target was 225.10 million tonnes against which only 204.61 million tonnes was likely to be achieved.

In 2003-04, the target was 220 million tonnes, against which 213.46 million tonnes was produced.

Referring to the NCDC that extends loans to cooperatives seven to 10.5 per cent, Mr. Bhuria said that it planned to disburse Rs. 6,900 crores for agro cooperative production and marketing activities in the next three to five years. It had given an assistance of Rs. 830 crores for the current year.

This included assistance to the National Agriculture Cooperative Marketing Federation for purchasing mustard, to spinning mills in Maharashtra, for repairs to sugar godowns in Madhya Pradesh, to the Andhra Pradesh Cooperative Marketing Federation for purchasing chillies and as margin money to the Uttaranchal State Cooperative Marketing Federation.

Mr. Bhuria said that the Corporation had a good recovery of 92 per cent with non-performing assets coming down to 1.26 per cent during 2004-05. It earned a profit of Rs. 125.19 crores during 2004-05.

Last year, the NCDC disbursed Rs. 1060.72 crores against Rs. 1507.27 crores sanctioned for developmental projects.

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