New Delhi, Aug 19 (IANS): The Cabinet Committee on Economic Affairs (CCEA) on Wednesday approved a package of Rs 77.45 crore for the revival of North Eastern Regional Agricultural Marketing Corporation Limited (NERAMAC).

The revival package would ensure remunerative prices for the farmers of the northeastern region for their products and also generate direct and indirect employment opportunities for about 33,000 persons, a release said.

Of the Rs 77.45 crore, Rs 17 crore would be towards fund-based support and Rs 60.45 crore would be towards non-fund based support, it said.

NERAMAC is a central public sector enterprise under the administrative control of the Ministry of Development of North Eastern Region (DoNER).

The revival package will also help NERAMAC implement various innovative plans, namely providing better farming facilities, training the farmers in clusters, organic seeds and fertiliser, post harvesting facilities in order to promote the products of northeast farmers in the world market through participation in events, registration of GI products etc., the release said.

After the revival of NERAMAC, employment oppportunities will be generated both directly and indirectly in the farming sector, projects and events management sector, logistics, sorting and grading and value addition, entrepreneurship and marketing.

"It is expected that employment will be generated for about 33,000 persons," the release said.

GI tagging and marketing of organic products of the northeastern region in other parts of the country as well as overseas will enhance the export of these products, which will improve the economic status of the farmers of the region, it added.