Thiruvananthapuram: The Kerala Government has initiated a number of steps to rejuvenate the State's coir sector. As part of the efforts, the activities of the public sector Kerala State Coir Corporation and Foam Mattings Ltd will be redefined so as to make them work for the integrated development of the coir sector. The Government has prepared a revival proposal for the Kerala State Co-operative Marketing Federation Ltd (Coirfed), the apex body of coir co-operative societies, and has commenced work. The Government had earmarked Rs 51 crore for the coir sector in this year's Budget, which was the highest budgetary allocation for the sector so far in the State.
The total amount to be written off was Rs 32.65 crore. Along with this, the Government loans as also the Government-guaranteed loans taken by the societies and the interest accrued on them would be converted into share capital. The societies will be benefited to the extent of Rs 65.12 crore through this measure. The marketing campaign for coir products under the brand name Kerala Coir-The Golden Yarn of God's Own Country will be introduced soon.
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