Food Processing Minister Harsimrat Kaur Badal on Tuesday said that the Cabinet is likely to consider on Wednesday a proposal to launch a new scheme 'Operation Green'.
It will have a corpus of Rs 500 crore to aid farmers in times of erratic price fluctuation in potatoes tomatoes and onions. After the Cabinet’s nod, the Operation Green scheme will be implemented on a pilot basis for two years, she said.
Another proposal to set up a non-banking financial company (NBFC) is expected to be taken up in the next week, she said.
NBFC may have an initial corpus of Rs 2,000 crore to meet the credit needs of the food processing sector.
"We are seeking cabinet approval for two schemes. I feel the TOP (tomatoes, onions and potatoes) scheme may be taken up in the tomorrow's cabinet meeting. The NBFC proposal may come up next week," Badal said on the sidelines of a CII event, reported news agency PTI.
The aim of the Operation Green scheme is to promote farmer agri-logistics, processing facilities, producers organisations and professional management.