Latest News | Govt Hikes Funds for Tea Development, Promotion by 82 Pc to Rs 528.97 Cr for 2024-26
Get latest articles and stories on Latest News at LatestLY. The outlay for the Tea Development and Promotion Scheme has been increased by 82 per cent to Rs 528.97 crore for the next two financial years, the government said on Thursday.
New Delhi, Mar 7 (PTI) The outlay for the Tea Development and Promotion Scheme has been increased by 82 per cent to Rs 528.97 crore for the next two financial years, the government said on Thursday.
The scheme is aimed at supporting the development of improved varieties for increasing the production and quality of tea.
Under the scheme, the setting up of 800 self-help groups and 330 farmer-producer organisations (FPO) in the next two financial years (2024-26) has been proposed, Amardeep Singh Bhatia, Additional Secretary in the Department of Commerce said, adding that the outlay has been increased from Rs 2.7 crore to Rs 105.5 crore for this purpose.
"Outlay for the scheme has been increased by 82 per cent from Rs 290.81 crore to Rs 528.97 crore for the next two financial years (2024-25 and 2025-26)," he told reporters here.
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He said that a significant increase in outlay has been made to promote Indian Tea in both domestic and international markets. The funds for the promotion of tea have been increased to Rs 72.42 crore.
For setting up blending and packaging units for value addition, Bhatia said Rs 40 crore has been allocated.
"The objective is to increase exports, especially in value-added segments and consumption of quality tea," he said adding a new component of technological interventions for tea plantation has been included for activities like precision farming, drone surveillance, traceability and blockchain, and digitization of activities of Tea Board.
India is the third largest exporter of tea in the world. The exports dipped by over 4 per cent to USD 673 million during April-January this fiscal.
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)