The Hindu Business Line : NAFED to be reimbursed Rs 37.27 crore

New Delhi, Aug 27 The Cabinet Committee on Economic Affairs (CCEA) on Thursday has decided to reimburse Rs 37.27 crore to the National Agricultural Cooperative Marketing Federation of India (NAFED).

For losses in domestic market

This amount is for the losses made on import of pulses and selling them in the domestic market.

“The CCEA has approved reimbursement of losses incurred by NAFED on the import of pulses during 2006-07 and 2007-08, amounting to Rs 37.27 crore,” the Home Minister, Mr P. Chidambaram, said, briefing newspersons after the meeting.

Domestic production of pulses stood at 14.66 million tonnes in 2008-09 though its annual demand stood at over 18 mt.

The gap in demand and production is met through imports.

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NAFED to be reimbursed Rs 37.27 crore