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Our Bureau

The move will benefit small growers who were the worst hit during the coffee crisis.

New Delhi , March 5

The Cabinet Committee of Economic affairs has approved the proposal to extend the deadline to May 31, 2006 from June 30, 2005 for payment of one-third of the interest amount on Special Coffee Term Loan (SCTL) during moratorium period.

"The move will benefit the small growers segment in particular," said the Union Minister for Parliamentary Affairs, Mr Priya Ranjan Dasmunshi.

These small growers would be able to pay their part of one-third share of interest component (on their loans) only after the harvest and sale of ensuing crop, he added.

The small grower was the worst hit in the entire coffee crisis and therefore it was necessary that the intended benefit accrue to all such small growers, said a statement.

agri MoU with China

The Union Cabinet also approved a proposal for signing a memorandum of understanding (MoU) for agricultural cooperation with the Government of the People's Republic of China.

This will promote further bilateral cooperation through joint activities and exchanges in agricultural activities and also through exchange of scientific delegations and experts as well as trainings between the two countries, said Mr Dasmunshi.

The MoU is valid for five years from the date of signing and is renewable for another five years.

It will be signed during the forthcoming visit of Mr Du Qinglin, the Chinese Agriculture Minister, during March 26-30, 2006.

More Stories on : Coffee | Agricultural Policy

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