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English Release 19-April 2014
Date Month Year
  • Prime Minister's Office
  • PM greets the nation on Easter
  • Min of Earth Science
  • Revised Earthquake of the Magnitude
  • Earthquake of Great Magnitude
  • Earthquake of Moderate Magnitude
  • Ministry of Finance
  • Central Board of Direct Taxes Issues Detailed Guidelines for Laying Down Standard Operating Procedure for Verification/Correction of Arrear Tax Demand
  • Central Board of Excise and Customs Issues Rate of Exchange of Foreign Currency to Indian Rupees in Case of Imported and Export Goods

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Cabinet Committee on Economic Affairs (CCEA)02-May, 2013 20:39 IST
Full reimbursement of losses to National Agricultural Cooperative Marketing Federation of India Ltd. on procurement of copra under Price Support Scheme

The Cabinet Committee on Economic Affairs (CCEA) today approved the removal of the cap on the amount of losses to be reimbursed on procurement of copra in the interest of farmers. This will ensure remunerative prices to growers.

Copra prices are already ruling below Minimum Support Price (MSP) level in some parts of the country, and may fall further unless immediate steps are taken to intervene in the market, to ensure MSP of copra for the farmers according to the policy of the Government. In view of lower prices of copra, National Agricultural Cooperative Marketing Federation of India Ltd. (NAFED) was finding it difficult to restrict losses within 15 percent of the cost of procurement under the Price Support Scheme (PSS) and hence could not undertake procurement of copra.

The CCEA considered the proposal of the Department of Agriculture & Cooperation for full reimbursement of losses to the NAFED on procurement of copra under PSS.

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SH/NK/SK
(Release ID :95470)

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