Financial Daily from THE HINDU group of publications
Tuesday, Sep 17, 2002
Financial Daily from THE HINDU group of publications Tuesday, Sep 17, 2002 |
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Agri-Biz & Commodities
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Coffee More sops for coffee trade Our Bureau
BANGALORE, Sept. 16 THE Finance Minister, Mr Jaswant Singh, who visited Chickmagalur on Monday to attend the Coffee Growers and Employees Convention 2002, has announced more concessions for the coffee industry. Mr G.C. Chandramohan, President, All-India Coffee Industry Action Committee, said the industry's main demand to bring all labour working on coffee plantations under the Anthyodaya Scheme had been met. This means that coffee labour will get rice, wheat and sugar at subsidised rates. The Finance Minister also extended the moratorium under the Special Coffee Term Loan with effect from March 31, 2001 instead of June 2002 irrespective of whether they had become NPAs or not. Mr Chandramohan said Nabard would set up a separate coffee plantation cell within the organisation. This would imply that all coffee loans would be considered agricultural loans. Mr Chandramohan also appealed to the Minister to set aside a major portion of price stabilisation fund for coffee industry.As for the encroachment of plantation in Karnataka, the Central Government would take action if the State Government passes the resolution to look into the encroachment problem, said the Minister.
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