Centre sanctions Kerala Rs 2,000 cr coconut revival project

Kochi: In a big boost to the revival hopes of the millions of farmers of Kerala, the Centre has sanctioned a Rs 1,924 crore project to replace the diseased coconut palms with new saplings. Disclosing this here on Friday, Chief Minister Oommen Chandy said the disease-hit palms would be cut down and new saplings would be planted under the project.

The intimation of sanctioning the project received on Wednesday, he said while inaugurating the three-day coconut festival by the Coconut Development Board in connection with its silver jubilee celebrations.

Earlier speaking, State Agriculture Minister K.R. Gowri Amma said the project, third by the state in the last four years, finally was approved by the Centre and the state had been instructed to take further steps in this regard.

Secretary of Union Agriculture Cooperation Radha Singh said 50-60 per cent of the package would be mobilised as loans from the banks while the Central assistance would to be to the tune of Rs 230 crore.