Cabinet Committee on Economic Affairs has approved a Dairy Processing amp Infrastructure Development...........

Economic Affairs Infrastructure

Cabinet Committee on Economic Affairs has approved a Dairy Processing & Infrastructure Development Fund. Which of the following statement is/are correct about Dairy Processing & Infrastructure Development Fund?

1. The project will focus on building an efficient milk procurement system

2. The project will be implemented by National Dairy Development Board (NDDB) and National Dairy Development Cooperation (NCDC).

Which of the above is / are correct statements?

1 only

2 only

Both

None

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Explanation:

The major activities of DIDF:

The project will focus on building an efficient milk procurement system by setting up of chilling infrastructure & installation of electronic milk adulteration testing equipment, creation/modernization/expansion of processing infrastructure and manufacturing faculties for Value Added Products for the Milk Unions/ Milk Producer Companies.
Management of DIDF:
The project will be implemented by National Dairy Development Board (NDDB) and National Dairy Development Cooperation (NCDC) directly through the End Borrowers such as Milk Unions, State Dairy Federations, Multi-state Milk Cooperatives, Milk Producer Companies and NDDB subsidiaries meeting the eligibility criteria under the project. An Implementation and Monitoring Cell (IMC) located at NDDB, Anand, will manage the implementation and monitoring of day-to-day project activities.
The respective State Government will be the guarantor of loan repayment. Also for the project sanctioned if the end user is not able to contribute its share; State Government will contribute the same.
Rs 8004 crore shall be loan from NABARD to NDDB/NCDC, Rs 2001 crore shall be end borrowers contribution, Rs 12 crore would be jointly contributed by NDDB/NCDC and Rs 864 crore shall be contributed by DADF towards interest subvention.