Cabinet approves extension of market intervention scheme for apples in J-K

New Delhi [India], October 21 (ANI): The Union Cabinet on Wednesday approved the extension of Market Intervention Scheme (MIS) for apple procurement in Jammu and Kashmir (J-K) for 2020-21 on the same terms and condition as was done in 2019-20.
The procurement of apple will be done by National Agricultural Cooperative Marketing Federation (NAFED) through Directorate of Planning and Marketing, Department of Horticulture and Jammu Kashmir Horticulture Processing and Marketing Corporation (JKHPMC), directly from apple farmers of J-K and the payment will be made through Direct Benefit Transfer (DBT) into the bank accounts of apple farmers, an official release said.
Twelve LMT of apples can be procured under this scheme, an official release said.
The government has also allowed NAFED to utilise government guarantee of Rs 2,500 crore for this operation. The losses, if any, will be shared between central government and UT administration on 50:50 basis.
The union cabinet also approved Memorandum of Understanding between the Institute of Chartered Accounts of India (ICAI) and the Certified Practising Accountants, Papua New Guinea (CPA PNG)to work together in capacity building and strengthening the accounting, financial and audit knowledge base in Papua New Guinea.
The cabinet also approved the Mutual Recognition Agreement between the Institute of Chartered Accounts of India (ICAI) and the Malaysian Institute of Certified Public Accountants (MICPA) to enable appropriately qualified CA (Chartered Accountant) members of either Institute to join the other Institute by receiving appropriate credit for their existing accountancy qualification. (ANI)