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Centre hikes financial package for rubber sector by 23% to Rs 708 crore

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Centre hikes financial package for rubber sector by 23% to Rs 708 crore

Centre Increases Financial Assistance for Rubber Sector

The Centre has announced a 23 per cent increase in financial assistance for the Rubber sector under the ‘Sustainable & Inclusive Development of Natural Rubber Sector’ scheme, raising the amount from Rs 576.41 crore to Rs 708.69 crore for the next two financial years (2024-25 and 2025-26). The Commerce and Industry Ministry revealed this decision on Monday.

To support the rubber industry, planting of rubber will be undertaken in 12,000 hectares in traditional areas during 2024-25 and 2025-26 with an outlay of Rs 43.50 crore. The rate of assistance has also been increased to Rs 40,000 per hectare from the earlier Rs 25,000 per hectare, in order to cover the increased cost of production and provide additional incentive to growers for planting rubber.

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An additional 3.752 hectares will be brought under rubber cultivation in non-traditional regions with an outlay of Rs 18.76 crore during the same period. Planting materials worth Rs 50,000 per hectare will be supplied by the Rubber Board and planting assistance at Rs 2,00,000 per hectare will be provided for SC growers in non-traditional regions.

The scheme also promotes forums of smallholders of rubber viz., Rubber Producers Societies (RPS) for empowerment of rubber growers. Around 250 new RPSs will be formed and assistance will be provided for the formation of another 1450 farmer clusters in non-traditional and NE regions.

The mobilisation of rubber growers into Rubber Producers Societies will help in improving price realisation for the rubber produced by the growers. Additionally, the formation of around 250 new RPSs will be supported in the next two years.

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The Ministry also highlighted its plans to fund rubber research, allocating an outlay of Rs 29.00 crore for the next two years. This research aims at developing rubber clones suitable for different agro-climatic regions of the country to expand rubber cultivation to new areas to meet the rising demand in the country.

With an aim to improve service delivery to rubber growers, the Rubber Board will intensify its digitization efforts and provide fast and instant services through its mobile-based apps and use drones for geo-tagging. An amount of Rs 8.91 crore has been provided for overall digitization of the Rubber Board.

The establishment of three nodal centres of National Institute of Rubber training (NIRT) in NE region Agartala, Guwahati, and Nagaland has been proposed with an outlay of Rs 5.25 crore in the next two years, primarily to promote MSMEs in this region by imparting training in product manufacture and quality control.

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Welfare measures are also being implemented to improve the quality of life of workers in the rubber industry, with various measures like Educational Stipend, Women empowerment schemes, Assistance for House construction, Group Life Insurance cum Terminal Benefit, Personal Accident Insurance Scheme, and a pension scheme for the next two years.

The move to increase financial assistance and provide support in various forms aims at promoting the growth and sustainability of the rubber sector in the country.

–IANS

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IANS, established in 1986, is India's largest independent news service, offering 24x7 news from India and South Asia, and a preferred source for diverse content across six business verticals.

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Mona Patel Net Worth 2024: How Much is the Entrepreneur and Philanthropist Worth?

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Mona Patel Net Worth 2024: How Much is the Entrepreneur and Philanthropist Worth?

Who is Mona Patel?

Mona Patel, a renowned entrepreneur and philanthropist, has captured headlines with her remarkable achievements. Hailing from Vadodara, Gujarat, India, Patel embarked on her journey to the United States at a young age to pursue her entrepreneurial aspirations. She is a trailblazer in various fields, including business, education, and philanthropy. Her dedication to empowering women and supporting meaningful causes has earned her widespread recognition.

Mona Patel Career

Remarkable achievements and relentless dedication mark Patel’s career trajectory. She holds an impressive array of qualifications, including a Bachelor of Science degree in Computer Science from Gujarat University, a Master of Science degree in Real Estate and Finance from the University of Florida, and a Master’s degree in Business Administration from MIT Sloan School of Management, among others.

Her professional journey includes pivotal roles in esteemed organizations such as Creative Choice Group, Select Radiology, Monalisa Properties, Teliradx, HauteX Ventures, M1 Imaging, CareFirst Imaging, Culture For Cause, and RadXai. As the Co-Founder, CEO, and CFO of various ventures, Patel has demonstrated exemplary leadership and innovation, contributing significantly to the business landscape.

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Mona Patel’s Net Worth

As of 2024, Mona Patel’s net worth is estimated to be approximately $1.2 billion. This substantial wealth is a testament to her entrepreneurial acumen and strategic investments across diverse sectors. Patel’s multifaceted business ventures have not only propelled her financial success but also enabled her to make a meaningful impact on society through philanthropy and social initiatives.

Mona Patel Age

Born on April 28th, Mona Patel’s age aligns with her dynamic personality and visionary leadership. As a Taurus by zodiac sign, she embodies qualities of determination, resilience, and creativity, which have been instrumental in her journey to success.

Mona Patel Family: Husband

In her personal life, Mona Patel shares a fulfilling relationship with her husband, Chintan Desai, a successful businessman. The couple exchanged vows on November 29th, 2007, and their enduring bond is evident through their cherished moments shared on social media.

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Mona Patel Height and Weight

While specific details regarding Mona Patel’s height and weight are not readily available, her towering achievements in business and philanthropy speak volumes about her stature as a dynamic leader and role model.

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David Yong Net Worth 2024: How Much is the CEO of the Singapore-based Evergreen Group Holdings Worth?

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David Yong Net Worth 2024: How Much is the CEO of the Singapore-based Evergreen Group Holdings Worth?

Who is David Yong?

David Yong is the CEO of Evergreen Group Holdings, a prominent Singaporean businessman, lawyer, and K-pop artist. He owns over fifteen firms spanning various industries, including wood, real estate, food and beverage, lifestyle, and finance.

David Yong Career:

Yong began his career as a trainee lawyer before joining his family’s firm in 2014. He oversees over fifteen companies, diversifying his father’s company with a strong focus on the Indochina region under the corporate umbrella of Evergreen Assets Management.

David Yong’s Net Worth:

David Yong’s estimated net worth in 2024 is $16.7 million. His wealth stems from reported shares across multiple companies, including Processa Pharmaceuticals, Inc., and QUESTCOR PHARMACEUTICALS INC. He also owns fifteen homes in Asia and holds $90 million in cash.

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David Yong Age:

David Yong is 36 years old.

David Yong Family: Parents:

Yong’s father is Yong Ing Fatt, who laid the foundation for the family’s timber logging business in Indochina. David followed his father on business trips and learned the ropes of the industry from a young age.

David Yong Height and Weight:

There is no specific information provided regarding David Yong’s height and weight in the referenced content.

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Mohammed bin Salman Al Saud Net Worth 2024: How Much is the Crown Prince of Saudi Arabia Worth?

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Mohammed bin Salman Al Saud Net Worth 2024: How Much is the Crown Prince of Saudi Arabia Worth?

Who is Mohammed bin Salman Al Saud?

Mohammed bin Salman, born on August 31, 1985, in Jeddah, Saudi Arabia, is the Crown Prince and Prime Minister of Saudi Arabia. He holds significant global influence and is known for his authoritative leadership stance.

Mohammed bin Salman Al Saud’s Career

Mohammed bin Salman’s career trajectory is notable. He graduated with a Bachelor’s Degree in Law and ventured into various entrepreneurial endeavors before becoming a formal advisor to his father, who was then the governor of Riyadh. Over the years, he ascended through political ranks, eventually becoming the Crown Prince and Prime Minister of Saudi Arabia.

Mohammed bin Salman Al Saud’s Net Worth

Mohammed bin Salman’s net worth has been a topic of interest and contention. While figures vary, estimates suggest his net worth is in the billions, with some sources citing figures around $5 billion and others suggesting figures exceeding $25 billion.

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Mohammed bin Salman Al Saud Age

As of 2024, Mohammed bin Salman is 39 years old, born on August 31, 1985, in Jeddah, Saudi Arabia.

Mohammed bin Salman Al Saud Family: Wife and Children

Mohammed bin Salman is married to Sara Bint Mashoor bin Abdul Aziz Al Saud, with whom he shares five children—three sons and two daughters. His family holds significant positions within the Saudi royal lineage, with Sara Bint Mashoor’s heritage tracing back to King Abdulaziz.

Mohammed bin Salman Al Saud Height and Weight

Mohammed bin Salman stands at a height of 6 feet 0 inches (183 cm), earning him the affectionate nickname “The Tallest” among his contemporaries. However, specific details about his weight are currently unavailable.

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