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The Government has approved continuation of ongoing Capital Investment Subsidy Scheme for construction/renovation of Rural Godowns with a total outlay of Rs.445 crore. The Central outlay will be Rs.115 crore beyond September 30, 2004 during the years 2004-05 to 2006-07. The operational guidelines for new projects with regard to restriction on total sanctions in a State, subsidy for smaller godowns and allied facilities, rate of subsidy to entrepreneurs and extension of higher subsidy to SC/ST cooperatives will be suitably modified. It would create new storage capacity of 32 lakh tonnes and enhanced renovated capacity of 4 lakh tonnes. This will enable farmers to enhance their holding capacity in order to sell their produce at remunerative prices. This decision was taken by Cabinet Committee on Economic Affairs (CCEA) which met here today.
The Scheme will be implemented through National Bank for Agriculture and Rural Development (NABARD), National Cooperative Development Corporation (NCDC) and by Directorate of Marketing and Inspection.
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