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DoNER minister review NEDFi’s progress
Published on 13 Jun. 2009 11:52 PM IST
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Union minister for DoNER, B. K. Handique, while reviewing the performance of NEDFi recently, took note of the overall growth of the Corporation especially in terms of sanction, disbursement and recovery and various other developmental initiatives. The Corporation presented business plan for the next five years besides highlighting the emerging sectors for investment in the North East and efforts made by NEDFi to promote industrialisation. At the end of the financial year 2008-09, NEDFi, with a net profit of Rs. 31 crore and net worth of Rs. 313 crore, has achieved cumulative disbursement of Rs. 792 crore against a cumulative sanction of Rs. 1,294 crore. Its bottom line has been growing at more than 20% in the last few years and the Corporation has started paying dividend from last financial year. NEDFi’s contribution to State Exchequer on the rise: It has contributed Rs. 27.50 crore to the exchequer by way of taxes during the last three years. In financial year 2009-10, NEDFi is expected to contribute more than 20 crore in taxes and dividend. NEDFi’s credit disbursement in the region has covered a wide spectrum of sectors like power, steel, cement, hospitality, tourism, hospitals, nursing homes, milk processing. NEDFi to introduce Business Edge: Over the years, it has broadened its activities from term-lending to micro-finance and commercialisation of Medicinal and Aromatic Plants (with R & D intervention, as and when necessary); skill development and market linkages for the first generation entrepreneurs and consultancy & advisory services. Keeping this pace, it has taken initiative at entrepreneur capacity building. Internationally tested product, ‘Business Edge’ from the International Finance Corporation is being introduced on 12th June at Guwahati, for the benefit of SME units. Augmenting NEDFi resource base on the anvil: Handique appreciated the efforts and the developmental role NEDFi has been playing over the years. He also expressed satisfaction at the Study being conducted by NEDFi on the downstream industries of the Assam Gas Cracker Project. However, he called upon NEDFi to embark on the path to exponential growth to reach disbursement level of Rs. 1,000 crore in the next few years in order to make a larger impact in the region. He assured to look into the need for augmenting the resource base of the Corporation on the basis of the detailed business plan prepared by NEDFi. Handicrafts from water hyacinth make a mark: Handique also suggested that NEDFi needs to increase its visibility in other states through its various developmental schemes and initiatives. NEDFi Haat is such an initiative which has a direct bearing on the grass-root level people like growers, artisans, weavers, small manufacturers. Through NEDFi Haat, Assamese traditional packaged food like ‘peetha’, ‘laru’ etc., were introduced and now widely acclaimed. The Minister was apprised about the project to set up NEDFi Haats in other states for which assistance in terms of infrastructure has already been sought from the respective states. The Minister also suggested that the recent intervention of NEDFi on the production of handicraft items from water hyacinth should be taken up as a large community-based activity to eradicate the menace of water-hyacinth and also to generate rural employment.

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