Home / Knowledge / News / Prime Minister approves Rs 243 cr Coir Project for XI Plan
Prime Minister approves Rs 243 cr Coir Project for XI Plan
18
Mar '08
The Cabinet Committee On Economic Affairs of Govt of India which met under the Chairmanship of Dr Manmohan Singh, Prime Minister of India on 7-3-2008 has approved the Rs 243 Cr Coir Project for implementation in the XI Plan. This is the highest ever Central Scheme sanctioned by GoI for Coir Sector for implementation by Coir Board.

The Finance Minister on the recommendation of the Planning Commission accepted the Scheme and ear-marked Rs 25 Cr as government grant for implementing the scheme during the accounting year 2007-8.

Due to revision of budget estimates, and as the project needed various approvals at various levels, and due to the consequential delay in Expenditure Finance Committee approving the Scheme, the outlay by way of Government grant was reduced to Rs 9 Cr for 2007-8 (In the Revised Estimates), and the total outlay for the operation of the Scheme was pegged at Rs 22.50 Cr. This was announced in the budget for 2008-9 in the Revised Estimates for 2007-8 by the Finance Minister.

The Rs 243 Crore scheme comprise two vital sectors which are at the lower most end of the Coir manufacturing pyramid- the spinning and the tiny, household segments. 4000 units of the spinning segment and 3200 units of the tiny and household segment will be covered under the Scheme.

The expected employment generation is 60,800 workers, of which 36800 will be new employment and 24000 will be existing employment.

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Coir Board

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