NBFC for food processing likely this year: Minister
Kolkata, July 13 : Union Food Processing Industries Minister Harsimrat Kaur Badal on Friday said the request for proposal (RFP) for the non-banking financial company (NBFC) exclusively catering to the financial needs of the food processing sector would be floated this month and the NBFC would possibly be operational by the end of this year.
According to her, investment worth close to Rs 2,000 crore would possibly be pumped in for the setting up of the NBFC, which is likely to be named Agro-Processing Financial Institution.
"The RFP is supposed to be floated this month and I had a meeting with the Finance Ministry yesterday (Thursday) for some clarification on expenditure. There is a lot of interest from the private sector not only nationally but also globally (to invest in the entity). We are looking at an investment of Rs 2,000 crore. We are putting seed money of about 20 per cent," she said.
There is a huge growth potential in the sector. However access to bank funds has been difficult because the banks fail to understand the risk assessment for the sector, she said on the sidelines of an interactive session on food processing industry organised by the Indian Chamber of Commerce here.
"The growth potential is huge but banks have refused to finance the way we would have wanted them to as they do not fully understand the risk assessment," she said.
According to her, there have been 'hardly any proposals' from the food processing industry in West Bengal under the several Central government schemes.
"Many proposals from the states of Maharashtra, Gujarat, Andhra Pradesh, Karnataka and others are coming in but I do not recollect any from Bengal," she added.
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We are together at home: Sharad Pawar on Ajit Pawar
Mumbai (PTI): Former Union minister Sharad Pawar on Monday said that he and nephew Ajit Pawar are together as a family, but made it clear that the latter was heading a different political party.
“Gharat tari ekatrach ahet (we are together at home least),” the veteran politician said at a press conference at Chiplun in coastal Konkan region.
He was responding to a query about the demand from “various quarters in the state” that the uncle-nephew duo should come together once again.
In July last year, Ajit Pawar broke away from his uncle to join the Eknath Shinde-led government in the state as deputy chief minister. Of late, there has been speculation over his continuation in the ruling alliance.
Asked about Ajit Pawar’s recent remarks the decision to make his wife Sunetra Pawar contest the Lok Sabha polls against Supriya Sule in Baramati was a mistake, the veteran politician said, “He is in a different party. Why should we comment on decisions taken by another party?”
Asked if the opposition Maha Vikas Aghadi (MVA) alliance of NCP (SP), Congress and Shiv Sena (UBT) had decided its chef ministerial face, Pawar said, “I don’t think that it is an urgent issue at the moment”.
When elections were held after the Emergency, Morarji Desai’s name as PM candidate was not disclosed before polling, he added.
“Our (MVA) attempt is to give a progressive alternative in Maharashtra with help of other parties like Samajwadi Party and Peasants and Workers Party,” he said.
“Our observation is that the people of Maharashtra have made up their mind to give us (MVA) a chance in the ensuing elections,” he said.
Asked about Andhra CM Chandrababu Naidu’s claim that sub-standard ghee with 'animal fat' was used to make prasad laddoos at Tirupati temple during Jaganmohan Reddy's tenure as CM, Pawar said, “If anything was mixed, it is very wrong and action should be taken against those involved”.
