Amid steep fall in prices of arecanut in Karnataka, the Centre today promised to bail out arecanut growers in the state through a market intervention scheme (MIS).
“We spoke to the Union Agriculture Minister about arecanut farmers' problems. He has agreed to set up a MIS with the State to procure the commodity,” the Karnataka Chief Minister, Mr B.S. Yeddyurappa, told reporters after meeting the Agriculture Minister, Mr Sharad Pawar.
The finances accruing from the scheme will be borne equally by the Centre and State governments, he said, adding the modalities of the scheme will be worked out tomorrow.