₹493 crore for ‘One District, One Product’ initiative in Karnataka
The State authorities on Monday determined to implement the ‘One District, One Product’ (ODOP) coverage for exploiting the potential of unorganised micro meals processing models throughout the subsequent 5 years, on an estimated value of ₹493 crore.
Under the Aatmanirbhar Bharat Abhiyaan, the Centre will present 60% of the allocation, whereas the remainder will come from the State authorities.
Briefing presspersons after a Cabinet assembly presided over by Chief Minister B.S. Yediyurappa, Law and Parliamentary Affairs Minister Basavaraj Bommai mentioned the fund was aimed toward making the unorganised sector extra organised by providing credit score, advertising and marketing of merchandise, and technical know-how.
The merchandise in every district have been chosen on the idea of their availability and scope for advertising and marketing. Under the coverage, one product has been recognized in every district and entrepreneurs concerned with these merchandise might be eligible to get credit-linked capital subsidy at 35% of the undertaking value, with a most ceiling of ₹10 lakh per unit. The most credit score is ₹30 lakh per undertaking.
A State-level committee, headed by Additional Chief Secretary and Development Commissioner, and district-level committees headed by Deputy Commissioners might be monitoring the implementation of the undertaking.
For buying 122 acres of the government-owned New Government Electrical Factory (NGEF) in Bengaluru, the Cabinet has determined to provide ₹61.98 crore to the Germany-based accomplice firm.
NGEF was began in 1956 on collaboration with the German firm, which holds 9.7% shares in the manufacturing unit. The value of those shares is ₹61.98 crore. After giving the share cash, your complete land of the manufacturing unit will belong to the State authorities, Mr. Bommai mentioned.