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CCEA approves Rs.632 crore for NHB
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SME Times News Bureau | 23 Apr, 2010
The Cabinet Committee on Economic Affairs (CCEA) has approved Rs.632 crore for the National Horticulture Board (NHB) to implement its existing schemes and promote 25,000 integrated commercial horticulture projects in the 11th plan period ending 2012.
"It is expected that with the budgetary support during the 11th Five Year Plan, additional infrastructure for post-harvest, cold-chain and primary processing would be created to handle about 25 lakh tonnes of horticultural produce," said an official statement released after the CCEA meeting.
An investment of Rs.495.61 crore by the board through back-ended subsidy for hi-tech commercial horticulture and cold chain infrastructure is expected to attract Rs.2,500-3,000 crore investment in the sector, it said.
"This will enhance productivity, employment generation and bring cultivable waste land under horticulture cultivation in the country," the statement said.
NHB was created in 1984 as an autonomous organization under the department of agriculture and cooperation to implement centrally sponsored schemes to develop the horticulture industry in an integrated manner.
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