The Hindu Business Line : NCDC allocates Rs 350 cr to Kerala for 2008-09

Thiruvananthapuram, Dec. 11 The National Cooperative Development Corporation (NCDC) has made a tentative allocation of Rs 350 crore as developmental assistance to Kerala during 2008-09.

This was indicated by Mr Gaigongdin Panmei, Deputy Managing Director of NCDC, at the 32nd meeting of the Review and Implementation Committee for monitoring the corporation’s schemes in the State.

Major beneficiary

He said that Kerala had emerged as a major beneficiary of NCDC funding by accounting for 8.5 per cent of the total flow of funds from the corporation across the country.

Mr B.R. Nair, Regional Director, NCDC, said the flow of funds from the corporation to the State during 2007-08 for various cooperative projects was an all-time high and the amount released was Rs 330.73 crore against Rs 310.59 crore in the previous year.

The meeting reviewed the various ongoing projects being implemented by NCDC in the State. It noted that the Rs 55-crore revitalisation project of Kerala State Rubber Cooperative Ltd (Rubco), for which the corporation had already provided Rs 53.66 crore, needed fillip in terms of flow of funds from the State Government and streamlining of the processing units.

Spinning mills

The meeting observed that the implementation of two spinning mills – Malcotex and Priyadarsini Cooperative Spinning Mills – involving Rs 60 crore needed to be expedited. Similarly, a Rs 9-crore project sanctioned by NCDC for establishing 25 supermarkets and 50 Neethi medical stores by the Kerala State Cooperative Consumers Federation (Consumerfed) had to be implemented without delay.

Besides, there is urgent need for completion of two powerloom projects with an outlay of Rs 12 crore and the implementation of the Rs 35-crore Integrated Coir Development Project.

The committee advised the cooperatives in the State to take advantage of the Agriculture Marketing Infrastructure and Standardisation Scheme launched the Centre through NCDC for setting up projects to streamline marketing operations.

It also urged NCDC to consider sanction of assistance to projects such as the Rs 32-crore Integrated Fisheries Development Project and the rehabilitation of Kannur and Malappuarm spinning mills with a total outlay of Rs 25 crore.

The committee also wanted direct funding of Rs 250 crore by NCDC to the Kerala State Cooperative Agriculture and Rural Development Bank.

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