India

FM announces new scheme for dairy industry

New Delhi: Finance Minister Nirmala Sitharaman while announcing the third tranche of the Prime Minister’s Rs 20 lakh-crore economic package on Friday said a new scheme is being introduced to offer lower interest rates to dairy cooperatives.

The interest subvention scheme will continue and will put additional Rs 5,000 crore in the hands of two crore farmers, the FM said.

Milk was being thrown on streets since consumers were unable to buy it during lockdown. During this time, 560 lakh litre/day milk was procured by cooperatives in which farmers were paid Rs 4,100 crore.

The government announced Rs 15,000 crore for dairy infrastructure, besides a livestock development programme.

The Finance Minister said the government made Rs 74,300-crore Minimum Support Price (MSP) purchases during lockdown and Rs 18,700 crore was transferred to farmers’ bank accounts.

(Agencies)

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