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The government has formed a committee to examine the creation of a revolving fund for the tea sector at an interest rate of 6 per cent, as part of a broader initiative to address the industry’s financial challenges.
The monitoring and advisory committee, headed by the commerce minister, will also recommend measures to ease the repayment burden on tea garden owners, including rescheduling classified loans and providing fresh financing.
According to a gazette notification issued by the Prime Minister’s Office on Sunday (August 16), the committee has been asked to give its opinion on establishing the 6 per cent revolving fund for the tea industry.
The committee will also examine proposals to declare tea an agricultural product and allow commercial installation of solar panels on unused land in tea gardens.
It has been directed to submit its recommendations to the government within 30 days.