Odisha to set up 2 corpus funds of Rs 100 crore each

BHUBANESWAR: The Odisha government will set up two separate corpus funds of Rs 100 crore each for 'pre-positioning' fertiliser and quality seeds ahead of the cultivation season.

The decision was taken at the state Cabinet meeting held here under the chairmanship of Chief Minister Naveen Patnaik.

"The amount will be utilised only for 'pre-positioning' of fertiliser within the state," Chief Secretary G C Pati said.

This is an effort to provide fertilisers to farmers on appropriate time during the Kharif and Rabi seasons, Pati said, adding that the Odisha State Co-operative Marketing Federation (OSCMF) and Odisha Agro Industries Corporation (OAIC) will be involved in procurement and supply of fertilisers to the farmers through the corpus fund.

The corpus fund will be shared on a 75:25 basis by OSCMF and OAIC, respectively, for pre-positioning of fertilisers within the state, he said.

The Chief Secretary said the Cabinet gave its nod for creating a corpus fund of Rs 100 crore for pre-positioning quality seed and planting materials by the institutional agencies and supplying them to farmers on time.

State agencies like Odisha State Seeds Corporation Ltd (OSSC), OAIC and Odisha State Cashew Development Corporation Ltd (OSCDC) will be involved in the process to ensure adequate quantity of seeds and planting material for the farmers.

The state Cabinet also approved the tender for two mega lift projects clusters to be executed on Indravati reservoir in the state, said Pati.

"The tenders have been awarded to L&T Ltd through a competitive bidding process. The first lift irrigation project costing Rs 757.80 crore will be executed in Koksara, Jayapatna and Dharmagada blocks of Kalahandi district.

The second project will cost Rs 514.89 crore, to be implemented in Bargarh, Sambalpur and Jharsuguda districts.