The budget proposal earmarking ₹54.45 crore for cashew sector has brought some relief to the ailing industry. Though the allocation will not be able to completely revive the sector, it is expected to give the crisis-ridden industry some breathing space.
“The budget is completely in tune with our demands. The major issue crippling the industry is the procurement of cashew kernel. Once the Cashew Board is properly constituted, we will come up with various measures to address that. As of now we have all the expected funds to go ahead,” said Minister J. Mercykutty Amma.
While ₹21 crore has been set aside for Kerala State Cashew Development Corporation (KSCDC), Kerala State Cashew Workers Apex Industrial Cooperative Society (Capex) and Cashew Board get ₹8 crore and 17 crore respectively.
Along with that, ₹1.5 crore has been allotted to branding and advertisement of new products and the Finance Minister has also announced another ₹20 crore for the revival of the industry, presumably for sorting out the issues in private sector.
“While the proposal in Union budget to bring down the import duty from to 2.5% offers only a mild solace, this time we have much to cheer about. Rampant import from Vietnam has caused a severe crisis in the industry leaving it in need of a lot of assistance. And this is definitely a budget that meets the expectations of the sector,” said KSCDC chairman S. Jayamohan.
With KSCDC launching a number of value-added products here on Friday and the generally upbeat response to budget proposals, it seems the industry has definitely something to look forward to.
No wonders
But N.K. Premachandran, MP, feels the budget can do no wonders in the sector, it being a repetition of the promises in 2017.
“Cashew Board is a body under dispute and its constitution is totally unscientific. It’s just another white elephant and I doubt whether we can get any benefit from it. Moreover, the ₹20 crore allotted for the revival of the industry is another eyewash. It was announced in last year’s budget too, but it turned out to be nothing more than a hollow promise,” he said.
