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LATEST NEWS UPDATES | NSC distributes seeds in drought-hit east India

NSC distributes seeds in drought-hit east India

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published Published on Sep 12, 2010   modified Modified on Sep 12, 2010


To help farmers in eastern India tide over the drought, the National Seed Corporation (NSC) has distributed tonnes of short-duration crop seeds to state government of West Bengal, Bihar, Jharkhand and Orissa.

“We are have distributed 11,000 quintal of short-duration crop seeds to Bihar and Jharkhand and 1,000 quintal to West Bengal,” NSC chairman and managing director SK Roongta told reporters on the sidelines of the 47th annual general meeting of the corporation.

In all, more than 60 districts of eastern India are reeling under the impact of drought this year of which more than 30 are in Bihar, 24 are in Jharkhand and 11 in West Bengal. The drought has lead to an estimated crop loss of around Rs 7,900 crore in West Bangal alone.

Recently, an eight-member team of senior central government officials, headed by joint-secretary to the agriculture ministry EK Majhi, on Wednesday held a meeting with West Bengal chief minister Buddhadeb Bhattacharjee and finance minister Asim Dasgupta to get a first-hand report on the drought situation in the state.

Meanwhile, Roongta said NSC sales are expected to be good this year as good monsoon in other parts of India is expected to boost cotton and sugarcane production.

“Kharif sales are likely to touch 7.75 lakh quintal, 50% higher than last year while rabi sales is likely to touch 10 lakh quintal,” the chairman said, adding that the corporation is targeting to increase its turnover by 30% in 2010-2011 to Rs 519 crore.

NSC’s revenue jumped by 62% to Rs 472 crore in 2009-10 fiscal over the previous financial year.

“The company’s seed production had gone up by 48% to 1.5 million quintal in 2009-10,” Roongta said.

It reported a revenue of Rs 292.43 crore in 2008-09. The chairman also said the company plans to give a dividend of 11% on its paid-up share capital, which would be the highest dividend payout since inception of the corporation in 1963.


The Financial Express, 10 September, 2010, http://www.financialexpress.com/news/NSC-distributes-seeds-in-droughthit-east-India/679674/


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