The Jute Technology Mission (JTM) has been formulated in a manner that a holistic approach can be adopted for the jute commodity system under the Mission mode, which encompasses sub-systems pertaining to agricultural research and seed development, agronomic practices, harvesting and post harvesting techniques, primary and secondary processing of raw jute, diversified product development, market development and marketing and distribution.
The Jute Corporation of India (JCI) is the official agency designated to implement the Minimum Support Price purchase scheme for jute growers, and acts as stabilising agency in the raw jute sector. JCI has also been restructured. This includes capital restructuring amounting to Rs. 600 crore, which will enable it to borrow from financial institutions at reasonable rates and thereby improve its profitability and operations.
The incentives given to its employees will also enhance productivity of the organization. JCI is in the process of signing an MOU with Government of India to improve its functional parameters.
The National Jute Manufactures Corporation (NJMC) was incorporated in 1980 and it has six nationalized jute mills under its management with five in West Bengal and one at Katihar, Bihar. The NJMC has been suffering cash losses since its inception. During the year a Revival Package has been approved for this chronically sick PSE which includes:
• VRS to all the employees at an estimated cost of Rs. 978 crore and
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